US import prices register fourth consecutive monthly decline
US prices for imported goods declined more than expected in October, data released on Tuesday showed.
Import prices fell 0.5% month-on-month compared with a downwardly revised 0.6% drop in September and with analysts’ expectations for 0.1% fall.
The decline marked the fourth consecutive monthly drop, the Labor Department said, adding import prices fell 0.3% month-on-month when excluding fuel.
On a year-on-year basis, import prices tumbled 10.5%, compared with a downwardly revised 11.3% fall in the previous month and with analysts’ expectations for a 9.4% drop.