15th Feb 2019 13:40
WASHINGTON (Alliance News) - US import and export prices both fell by much more than anticipated in the month of January, according to a report released by the Labor Department on Friday.
The report said import prices fell by 0.5% in January after tumbling by 1.0% in December, while economists had expected import prices to edge down by 0.1%.
Excluding a steep drop in prices for fuel imports, import prices still dipped by 0.2% in January after coming in unchanged in the previous month.
The Labor Department said export prices also slid by 0.6% for the second consecutive month in January. Economists had expected export prices to slip by 0.1%.
Prices for non-agricultural exports fell by 0.3% in January after plunging by 1.1% in the previous month.