US Import Prices Jumped by the Most Since 2022 Ahead of War (2)

The cost of imports into the US jumped in February by the most in nearly four years, reflecting a broad pickup in prices even before war in the Middle East.

Import prices increased 1.3% from the prior month, according to Bureau of Labor Statistics data out Wednesday, boosted in part by higher prices for petroleum and natural gas.

Excluding petroleum, import costs advanced 1.2%, the most since January 2022 and driven by a record monthly increase in capital goods costs as well as a pickup in prices of consumer merchandise excluding automobiles.

Export prices also surged, ...