Forexpros – U.S. import prices rose less-than-expected in February, official data showed on Wednesday.
In a report, the U.S. Bureau of Labor Statistics said U.S. import prices rose by a seasonally adjusted 0.4% in February, below expectations for a 0.6% gain.
Import prices for January were revised to a flat reading from a previously reported increase of 0.3%.
Year-over-year, U.S. import prices rose at an annualized rate of 5.5% in February, missing forecasts for a 5.8% increase, after rising at a rate of 6.9% in January.
According to the data, import prices of oil jumped 1.8% last month.
Following the release of the data the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.27% to trade at 1.3048.
Meanwhile, U.S. stock index futures were largely unchanged following the data. The Dow Jones Industrial Average futures pointed to a flat open, S&P 500 futures edged 0.05% lower, while the Nasdaq 100 futures dipped 0.1%.
Forexpros
