Data released Thursday by the U.S. Department of Labor showed that import prices rose slightly more than economists had anticipated in January.
According to the report, import prices increased by 0.2% during the month, matching December’s gain after that figure was revised higher. Economists had forecast a smaller rise of 0.1%.
The report also indicated that export prices posted a stronger increase. Export prices climbed 0.6% in January, equaling the upwardly revised rise recorded in December. Analysts had expected export prices to advance by 0.2%.