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August Import Prices Decline 0.4%

9/13/2011 9:00:00 AM
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The price of goods imported to the United States fell 0.4% in August, the second decline in three months, the Labor Department said Tuesday.

The drop, which followed a revised 0.3% increase in July, was a smaller decline than the 0.4% drop that had been forecast by economists, Bloomberg reported.

Imported petroleum fell 2.1% from July but was up 44% from a year earlier. Import prices excluding fuels rose 5.3% from a year ago.

U.S. export prices rose 0.5% following a 0.4% decline.

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