Import prices in the U.S. saw a continued decrease in the month of February, according to a report released by the Labor Department on Friday, although the drop in prices was not as steep as economists had anticipated.
The Labor Department said its import price index dipped by 0.3 percent in February after tumbling by a revised 1.0 percent in January.
Economists had expected import prices to fall by 0.8 percent compared to the 1.1 percent decrease originally reported for the previous month.
The report also said the export price index dropped by 0.4 percent in February after sliding by 0.8 percent in January. Export prices had been expected to decline by 0.5 percent.
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