Investing.com - U.S. import prices rose more than expected in February, official data showed on Thursday.
In a report, the U.S. Bureau of Labor Statistics said U.S. import prices increased by a seasonally adjusted 0.9% last month, compared to forecasts for a 0.4% gain. Import prices for January were revised up to a 0.4% gain from a previously reported rise of 0.1%.
Year-over-year, U.S. import prices fell at an annualized rate of 1.1% in February, following a 1.5% drop in January.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD rising 0.27% to trade at 1.3941.
Meanwhile, U.S. stock index futures pointed to a higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.15%, S&P 500 futures indicated a rise of 0.2%, while the Nasdaq 100 futures signaled an increase of 0.3%.