June 15, 2010
Cheaper Fuel Pushes Import Prices Down In May
By Matthew L. Brown
Import prices declined 0.6 percent in May, according to the U.S. Bureau of Labor Statistics.
In April, import prices increased by 1.1 percent. In March, they increased by 0.4 percent.
The bureau said the decrease was led by falling fuel prices, which offset a rise in nonfuel prices. In contrast, the price index for U.S. exports increased 0.7 percent in May after increasing 1.2 percent and 0.7 percent in April and March, respectively.
The May decrease was the first since import prices fell 0.1 percent in February. It was the largest monthly drop since last July.
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