U.S. import prices declined 0.6 percent in August, the U.S. Bureau of Labor Statistics reported today, following a 0.1-percent decrease the previous month. Falling prices for both fuel and nonfuel imports contributed to the August decline. Prices for U.S. exports edged down 0.1 percent, after decreasing 0.5 percent in July. Import prices declined 0.6 percent in August, the largest monthly drop since the index fell 1.3 percent in January 2016. The August decrease followed a 0.1-percent decline in July and was only the third monthly drop over the past 12 months. Prices for U.S. imports advanced 3.7 percent from August ... (full story)

U.S. import prices recorded their biggest drop in more than 1-1/2 years in August amid declines in the cost of fuels and a range of other goods, suggesting a strong dollar was curbing imported inflation pressures. The Labor Department said on Friday import prices fell 0.6 percent last month. That was the largest decline since January 2016 and followed a downwardly revised 0.1 percent dip in July. Import prices were previously reported to have been unchanged in July. Economists polled by Reuters had forecast import prices falling 0.2 percent in August. In the 12 months through August, import prices rose 3.7 percent, ... (full story)