The Labor Department released a report on Thursday showing an unexpected increase U.S. import prices in the month of January.
The report said import prices climbed by 0.8 percent in January after falling by a revised 0.7 percent in December. Economists had expected import prices to come in unchanged, matching the flat reading originally reported for the previous month.
The Labor Department said export prices also advanced by 0.8 percent in January following a revised 0.7 percent decrease in December.
Export prices were expected to edge down by 0.1 percent compared to the 0.9 percent slump originally reported for the previous month.
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