With prices for fuel imports seeing a significant decrease, the Labor Department released a report on Thursday showing an unexpected drop in U.S imports prices in the month of May.
The report said import prices fell by 0.6 percent in May following a revised 0.7 percent decrease in April. Economists had been expecting import prices to come in unchanged.
The Labor Department also said export prices dropped by 0.5 percent in May compared to a 0.7 percent decline in the previous month. Export prices had been expected to edge down by 0.1 percent.
For comments and feedback: editorial@rttnews.com