News release: “U.S. import prices rose 1.4 percent in February, the U.S. Bureau of Labor Statistics reported today, following a similar 1.3 percent advance in January. The price index for U.S. exports increased 1.2 percent in February after rising 1.3 percent the previous month. Higher agricultural and nonagricultural export prices each contributed to the overall advance in February. All Imports: Prices for imports rose 1.4 percent in February, continuing a five-month trend of monthly increases greater than 1.0 percent. Import prices advanced 6.9 percent for the year ended in February, driven by a 7.0 percent jump for the index over the past five months. The year-over-year rise in February was the largest 12-month advance since an 8.5 percent increase for the year ended in May 2010. Higher prices for both fuel and nonfuel import prices contributed to the increase in February and over the past year…All Imports Excluding Fuel: Nonfuel import prices advanced 0.3 percent in February after a 0.7 percent increase in January. Higher prices for nonfuel industrial supplies and materials; foods, feeds, and beverages; and each of the major finished goods categories all contributed to the rise in nonfuel prices in February. The price index for nonfuel imports increased 3.6 percent the past year, the largest 12-month advance since a 4.8 percent increase between October 2007 and October 2008. The current 12-month rise was mostly driven by a 12.9 percent advance for nonfuel industrial supplies and materials prices and a 15.8 percent increase for foods, feeds, and beverages prices.”