U.S. import prices fell 0.2% in June, with export prices off 0.2% as well
U.S. import prices fell 0.2% in June, with export prices off 0.2% as well. The 0.3% decline in May import prices was revised up to -0.1%, while May export prices were nudged to -0.5% from -0.7% previously. Petroleum import prices dropped another 2.2% (a fourth straight monthly slide) versus -1.2% previously (revised from -3.9%). Excluding petroleum, import prices are up 0.1%. Industrial supplies prices slipped 0.9% from -0.8% (revised from 1.8%). Foods, beverages prices increased 0.9% versus 1.0% (revised from 1.2%). As for export prices, agriculture prices dropped 1.5% from -1.6%, with foods, beverages at -1.6% from -2.0%, with industrial supplies flat from -1.3% (revised for m-1.8%). Excluding ag, export prices were flat.