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U.S. Import Prices Decrease Much More Than Expected May
(RTTNews) - Import prices in the U.S. fell by much more than expected in the month of May, according to a report released by the Labor Department on Thursday.
The Labor Department said import prices slid by 0.6 percent in May after rising by a downwardly revised 0.3 percent in April.
Economists had expected import prices to edge down by 0.1 percent compared to the 0.4 percent increase originally reported for the previous month.
Meanwhile, the report said export prices plunged by 1.9 percent in May after a revised 0.1 percent dip in April.
Export prices were expected to come in unchanged compared to the 0.2 percent uptick originally reported for the previous month.
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