US import prices likely slowed in February as foreign product prices dropped

US impot price index likely fell by 0.9% in February due to widespread drops in foreign product prices and certain stabilization in global petroleum prices. February's decline will be a slightly slower pace as compared with January's decline of 1.1%.

The trend of import prices, overall, seems to be steadying after falling almost 16% in mid-2014. The overall IPI likely dropped by 6.7% since February 2015. On the whole, the impact of import prices on domestic inflation has been restricted. The core US CPI has rebounded steadily, rising to 2.2% y/y in January.