Investing.com - U.S. import prices rose for the second consecutive month in February, official data showed on Wednesday.
In a report, the U.S. Bureau of Labor Statistics said U.S. import prices rose by a seasonally adjusted 1.1% in February, compared to expectations for a 0.5% increase.
Import prices for January rose by 0.6%.
Year-over-year, U.S. import prices fell at an annualized rate of 0.3% last month, compared to expectations for a 0.7% drop.
Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.46% to trade at 1.2975.
Meanwhile, U.S. stock future indices erased losses to point to a modestly higher open. The Dow Jones Industrial Average futures were little changed, S&P 500 futures pointed to a gain of 0.1%, while the Nasdaq 100 futures pointed to a flat open.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
