Washington, D.C. – The latest data on U.S. import and export prices for February showed that trade prices exceeded expectations, with Chinese import prices showing an increase.

The U.S. Department of Labor reported that import prices rose by 1.2% in February, beating the forecasted increase of 0.9%. This increase was driven by higher prices for nonfuel imports. Export prices also increased by 1.6% in February, marking the largest gain since June 2018.

Chinese import prices saw a 0.9% increase in February, a reflection of the ongoing trade tensions between the U.S. and China. The two countries have been engaged in a trade war for several years, with tariffs being imposed on various goods. The recent increase in Chinese import prices could have implications for U.S. consumers, as higher import prices often lead to increased costs for goods.

The rise in U.S. import and export prices comes at a time of uncertainty in the global economy, with the ongoing COVID-19 pandemic causing disruptions to supply chains and trade flows. Economists will be closely monitoring the impact of these price increases on inflation and consumer spending in the coming months.