US import prices fall 0.4% in November

Import prices in the US fell 0.4% in November as fuel prices slumped 2.5%, following a 0.3% drop in October and a 1.1% decline in August, according to data from the Department of Labor.

Prices have been on a downward trend throughout this year, slipping each month with the exception of May and June.

Prices for imports fell 9.4% for the year ended in November, and have not increased on a 12-month basis since the index rose 0.9% in July 2014.

Excluding fuel, prices fell 0.2% in November following 0.3% declines in each of the previous four months.