US import prices increased by 1.3 percent in February 2026, the largest monthly gain since March 2022 and well above market expectations of a 0.5 percent rise. Prices for imported fuels and lubricants advanced 3.8 percent, reversing a 1.2 percent decline in January. This was driven by a 2.5 percent increase in petroleum prices and a sharp 24.7 percent surge in natural gas prices.
Nonfuel import prices rose 1.1 percent, accelerating from a 0.8 percent increase in January. The uptick was broad-based, reflecting higher prices for capital goods; nonfuel industrial supplies and materials; consumer goods excluding automobiles; foods, feeds, and beverages; and automotive vehicles, parts, and engines.
Year over year, US import prices were up 1.3 percent, marking the strongest annual increase since February 2025.
