March 21, 2005 (The Editor’s Desk is updated each business day.)

Import prices in February 2005

Import prices jumped for the second consecutive month in February, led again by rising petroleum prices.

[Chart data—TXT]

After declining 16.8 percent over the final two months of 2004, petroleum prices have resumed a nearly two-year upward trend, rising 3.9 percent in February and 3.4 percent in January. Import petroleum prices were up 29.6 percent for the year ended in February.

In addition, nonpetroleum import prices increased for the fourth consecutive month, rising 0.2 percent in February after increasing 1.6 percent over the three previous months. Over the past year, prices of nonpetroleum imports rose 2.9 percent, while overall import prices advanced 6.1 percent.

Export prices were unchanged in February as decreasing agricultural prices were offset by a modest increase in nonagricultural prices.

These data are from the BLS International Price program. Import and export price data are subject to revision. Learn more in "U.S. Import and Export Price Indexes - February 2005" (PDF) (TXT), news release USDL 05-434.