U.S. Import Prices Rise Less Than Expected, But Export Prices Surge Much More Than Expected

(RTTNews) - While the Labor Department released a report on Friday showing U.S. import prices increased by slightly less than expected in the month of January, the report also showed U.S. export prices surged by much more than anticipated.

The Labor Department said import prices rose by 0.3 percent in January after inching up by an upwardly revised 0.2 percent in December.

Economists had expected import prices to climb by 0.4 percent compared to the 0.1 percent uptick originally reported for the previous month.

Meanwhile, the report said export prices shot up by 1.3 percent in January after climbing by an upwardly revised 0.5 percent in December.

Economists had expected export prices to rise by 0.3 percent, matching the increase originally reported for the previous month.