US import and export price index for February 2021

  • Import price index MoM 1.3% versus 1.0% estimate. Last month prices rose 1.4%.
  • Import price index, ex petroleum MoM 0.5% versus 0.4% estimate
  • Import price index YoY 3.0% versus 2.6% estimate
  • Export price index MoM 1.6% versus 1.0% estimate
  • Export price index YoY 5.2% versus 4.4% estimate

Higher import prices for sure, but export prices are also up.

The gain was helped by higher fuel and non fuel prices. The import prices have risen about 1.3% and 1.4% over the last two months. The rise in January was the largest monthly advance since March 2012. With the exception of a 0.1% decline in October, import prices have increased each month since April 2020. The your and your gain of 3.0% was the largest 12 month advance since the index increased 3.4% from October 2017 to October 2018

  • fuel increased 11.1% of February after increasing 9.0% in January and 7.3% in December. The gain was the largest since 11.2% in July 2020
  • the price index for import fuel rose 6.5% over the past year
  • finished goods:Prices for each of the major finished goods categories rose in February. The price indexes for capital goods, consumer goods, and automotive vehicles all ticked up 0.1 percent.
  • Foods, feeds, beverages: Prices for import foods, feeds, and beverages advanced 1.6 percent in February, after increasing 1.8 percent the previous month. The February rise was led by higher prices for fruit, meat, and alcoholic beverages.
  • U.S export prices advanced 1.6 percent in February, after a 2.5-percent rise in January which was the largest 1-month increase since the index was first published monthly in December 1988.
  • The February 12-month rise was the largest over-the-year increase since the index advanced 5.3 percent in June 2018.
  • Agricultural exports:The price index for agricultural exports rose 2.9 percent following a 6.0-percent increase the previous month.
  • Nonagricultural export prices rose 1.5 percent in February, after increases of 2.2 percent in January and 1.3 percent in December.
  • Finished Goods: Prices for each of the major finished goods categories advanced in February.

For the full report from the BLS, CLICK HERE