Import, Export Prices Both Higher in February

Washington, DC, March 15, 2011 -- U.S. import and export prices rose in February, the Labor Department said.

Import prices jumped 1.4%, due mostly to rising oil prices and the increase was higher than the consensus forecast of 0.9%.

Fuel import prices rose 4.0% compared to non-fuel prices which rose 0.3%.

Export prices rose 1.2%, or almost double the consensus estimate of 0.7%, led by a 4.4% rise in agricultural export prices.