U.S. import prices flat in January

The import price index was flat in January, as the falling cost of gas offset increases in non-fuel goods. Excluding fuel, prices of imported goods rose 0.2%, the government said Friday. The increase in import prices over the past 12 months slowed to 0.3% from 0.5%. If fuel is omitted, import prices have fallen almost 1% over the past year. The U.S. government on Thursday reported a small increase in consumer prices last month, with inflation growing just slightly faster than 2%. Other price barometers show inflation rising less than 2% a year, however.