March 14, 2003 (The Editor’s Desk is updated each business day.)

Import prices up again in February

The U.S. Import Price Index increased 1.3 percent in February, after rising 1.6 percent in January. Over the past 12 months, import prices rose 7.0 percent.

Over-the-month percent change in price index for imports, February 2002–February 2003 (not seasonally adjusted)
[Chart data—TXT]

The increase in import prices continues to be primarily attributable to rising petroleum prices, which were up 8.2 percent in February and are at the highest level since the index was first published in June 1982. Over the past year, imported petroleum prices were up 75.0 percent. In addition, the index for nonpetroleum imports rose 0.4 percent in February, the largest monthly increase in this component since April 2002. The index was up 1.6 percent in the past 12 months.

These data are a product of the BLS International Price program. Learn more in "U.S. Import and Export Price Indexes - February 2003," news release USDL 03-124.