US Import Prices Fell by 0.2% in June

Import prices in the US fell for the second consecutive month in June. The Labor Department reported that import prices fell by 0.2% last month after a revised decrease of 0.1% in May.

Economists predicted that import prices would decline by 0.2% in June after a 0.3% decrease was registered in May.

Lower fuel prices led to a decline in June, which more than offset the increase in prices for non-fuel products. The US export price index fell by 0.2% in June after a decline of 0.5% in May.

Export prices fell by 0.2% in June, mainly due to lower prices for agricultural products. The prices for exports increased by 0.6% year-on-year.