Investing.com - U.S. import prices rose broadly in line with market expectations in January, official data showed on Tuesday.
In a report, the U.S. Bureau of Labor Statistics said U.S. import prices rose by a seasonally adjusted 0.3% in January, in line with market expectations.
Import prices for December declined by an unrevised 0.1%.
Year-over-year, U.S. import prices rose at an annualized rate of 7.1% in January, matching forecasts, after rising at a rate of 8.5% in December.
Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.23% to trade at 1.3157.
Meanwhile, U.S. stock index futures turned lower after the release of the data. The Dow Jones Industrial Average futures indicated a loss of 0.15%, S&P 500 futures pointed to a drop of 0.2%, while the Nasdaq 100 futures fell 0.2%.
In a report, the U.S. Bureau of Labor Statistics said U.S. import prices rose by a seasonally adjusted 0.3% in January, in line with market expectations.
Import prices for December declined by an unrevised 0.1%.
Year-over-year, U.S. import prices rose at an annualized rate of 7.1% in January, matching forecasts, after rising at a rate of 8.5% in December.
Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.23% to trade at 1.3157.
Meanwhile, U.S. stock index futures turned lower after the release of the data. The Dow Jones Industrial Average futures indicated a loss of 0.15%, S&P 500 futures pointed to a drop of 0.2%, while the Nasdaq 100 futures fell 0.2%.