U.S. import prices fell 2.6% in April, the largest decline in more than five years, the Labor Department said Thursday. The decline was led by oil prices,...
U.S. import prices fell 2.6% in April, the largest decline in more than five years, the Labor Department said Thursday.
The decline was led by oil prices, which have tumbled due to the weak demand and lack of travel as a result of the coronavirus pandemic. Imported fuel prices declined a record 31.5% in April after a 26% drop in the prior month. Excluding fuel, prices of imported goods fell 0.5% in April. Import prices have fallen 6.8% over the past 12 months. Excluding fuel, prices have fallen 1%.
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