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U.S. Import Prices Drop More Than Expected In August

(RTTNews) - With fuel prices pulling back sharply, the Labor Department released a report on Friday showing a slightly bigger than expected decrease in U.S. import prices in the month of August.

The report showed import prices fell by 0.5 percent in August after inching up by a downwardly revised 0.1 percent in July.

Economists had expected import prices to drop by 0.4 percent compared to the 0.2 percent uptick originally reported for the previous month.

The Labor Department also said export prices slid by 0.6 percent in August after rising by 0.2 percent in the previous month. Export prices had been expected to dip by 0.2 percent.

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