Import Prices Rise by Most in Six Months

The price of goods imported to the United States rose 1.1% in February, the highest increase in six months, the Labor Department said Wednesday.

The February upturn, which followed a 0.6% decline in January, was almost double economists’ 0.6% forecast, Bloomberg News reported.

Imported oil costs jumped 5.2%, while prices excluding petroleum were largely unchanged.

U.S. export prices gained 0.8% in January, following a 0.3% the prior month, Labor said.