US import prices post largest gain in four years as energy costs soar [View all]

Source: Reuters

U.S. import prices increased by the most in nearly four years in February as energy costs surged in anticipation of conflict ​in the Middle East, adding to signs that inflation is poised to accelerate in the months ahead.

Import prices jumped 1.3% last ‌month, the largest increase since March 2022, after an upwardly revised 0.6% gain in January, the Labor Department's Bureau of Labor Statistics said on Wednesday. Economists polled by Reuters had forecast import prices, which exclude tariffs, increasing 0.5% after a previously reported 0.2% rise in January.

In the 12 months through February, import prices advanced 1.3%. That was the largest year-on-year increase ​since February 2025, and followed a 0.3% increase in January.

"Having not been a factor in the inflation story recently, import prices are ​beginning to be an issue ahead of the surge in fuel prices that is to be expected in March ⁠with the conflict with Iran and the effective closure of the Strait of Hormuz," said John Ryding, chief economic advisor at Brean Capital.





Read more: https://www.reuters.com/business/us-import-prices-post-largest-gain-nearly-four-years-february-2026-03-25/