US import prices fall 1.2% in September, export prices drop 0.8%

US import prices decreased in September, according to the Bureau of Labor Statistics, with lower fuel and non-fuel prices both contributing to the drop.

The price index for US imports decreased 1.2% last month and 3.7% in the third quarter - the largest three-month decline since the index fell 4.3% for the three months ended May 2020.

Prices for US exports fell 0.8% in September, following a 1.7% decline in August, and 6.2% in the third quarter. The quarterly drop was the largest three-month decrease since the index fell 7.3% from September to December 2008.

Reporting by Iain Gilbert at Sharecast.com