U.S. Import Prices Unexpectedly Climb 0.4% In February

(RTTNews) - A report released by the Labor Department on Tuesday showed an unexpected increase by U.S. import prices in the month of February.

The Labor Department said import prices climbed by 0.4 percent in February, matching an upwardly revised increase in January.

Economists had expected import prices to edge down by 0.1 percent compared to the 0.3 percent growth originally reported for the previous month.

The report also said export prices inched up by 0.1 percent in February after jumping by 1.3 percent in January. Export prices were expected to dip by 0.2 percent.