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U.S import and export prices declined more than expected in August

U.S. import prices declined 0.6 percent in August, the U.S. Bureau of Labor Statistics reported today, following a 0.1-percent decrease the previous month. Falling prices for both fuel and nonfuel imports contributed to the August decline. Prices for U.S. exports edged down 0.1 percent, after decreasing 0.5
percent in July.
Prices for U.S. exports decreased 0.1 percent in August, after declining 0.5 percent in July. The July downturn was the first monthly drop since June 2017. In August, lower prices for nonagricultural exports more than offset higher agricultural prices. The price index for overall exports advanced 3.6 percent for the year ended in August and has not recorded a 12-month decline since a 0.2-percent decrease in November 2016.

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