U.S. Import Prices Decline 0.5% In September

The prices paid for imported goods fell 0.5% in September and declined for the third straight month, another sign that U.S. inflationary pressures remain muted. The main reason: falling worldwide oil prices. Fuel costs dropped 0.5% in September. As a result, import prices declined by 0.9% in the 12-month period from September 2013 to September 2014, the biggest drop since February, the Labor Department said Friday. Economists polled by MarketWatch had forecast a 0.7% reduction in import prices. Excluding fuel, import prices slipped 0.1% last month. The price of U.S.-made goods exported to other nations, meanwhile, declined by 0.2% in September.