Mumbai, Feb. 17 -- While the Labor Department released a report on Friday showing U.S. import prices increased by slightly less than expected in the month of January, the report also showed U.S. export prices surged by much more than anticipated.
The Labor Department said import prices rose by 0.3 percent in January after inching up by an upwardly revised 0.2 percent in December.
The report said the annual rate of growth by import prices slowed to 1.9 percent in January from 2.2 percent in December.
The modest monthly increase by import prices largely reflected a continued surge by prices for fuel imports, which spiked by 3.2 percent in January after jumping by 1.7 percent in December.
Prices for non-fuel imports crept up by 0.1 percent...