U.S. Import And Export Prices Decline

By John S. McClenahen For inflation-worrying manufacturers, the good news is that import prices fell in June. The U.S. Labor Department's Import Price Index decreased 0.2% last month, the first monthly decline since September 2003. The decrease was led by lower oil prices. Prices for imported petroleum fell a full percentage point in June, following a 9.4% increase in May. Import prices for non-petroleum goods were unchanged in June, the first month since last October that they had not increased. U.S. export prices fell 0.6% last month, with the price indexes for both agricultural and non-agricultural products declining. Non-agricultural prices, led by industrial supplies and materials, decreased 0.1% in June.

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