P.M. BRIEFING : Jan. Export, Import Prices Rise
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WASHINGTON — Prices for U.S. exports and imports rose substantially during January, led by increases in fuels and food, a sign of stronger inflationary pressures for the economy, the government reported today.
Last month, the import price index rose 1.4%, while the export price index increased 1.1%, the Labor Department’s Bureau of Labor Statistics said.
According to the bureau, the January rise in import prices, which followed much smaller increases in the four previous months, was primarily attributable to sharply higher prices for petroleum, which jumped 13.5%.
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