U.S. import price index declines 0.6% in July
WASHINGTON (MarketWatch) - The prices paid for U.S. imports fell 0.6% in July, the Commerce Department said Friday. That compared to a revised 2.4% drop in June. The decline in June was originally reported as 2.7%, mainly because of falling oil prices. Oil prices also fell in July, but at a much slower rate. Economists surveyed by MarketWatch had expected import prices to be unchanged in July. Excluding fuel, import prices dipped 0.4% last month. The price of U.S.-made goods exported to other nations, meanwhile, rose 0.5% in July after a 1.7% decline in the prior month.