U.S. Import Prices Fall More Than Expected In June
With fuel prices showing a substantial decrease in the month of June, the Labor Department released a report on Thursday showing a much bigger than expected drop in import prices for the month.
The report showed that import prices tumbled by 2.7 percent in June following a revised 1.2 percent drop in May. Economists had expected prices to fall by 1.9 percent compared to the 1.0 percent decrease originally reported for the previous month.
Export prices also showed a notable decrease, falling by 1.7 percent in June after sliding by 0.4 percent in May. The drop far exceeded economist estimates for a decrease of about 0.2 percent.
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