U.S. import prices rose 0.3% M/M, falling behind the +0.4% consensus and +0.2% in December (revised from +0.1%), according to Bureau of Labor Statistics data released on Friday.

U.S. import prices increased slightly less than expected in January as a surge in the cost of fuels was partially offset by decreases in the prices of motor vehicles and consumer goods, offering some hope in the fight against inflation.

South Korea's import prices rose for the fourth consecutive month in January due mainly to the weak local currency and high global oil prices, central bank data showed Friday. The import price index climbed 2.

The cost of imports has been pretty tame for the past few years, but they could play a bigger role in U.S. inflation if President Trump follows through with his threat of stiff tariffs on a broad array of foreign goods.