U.S. Import Prices Drop 1.3% In October

The prices paid for imported goods fell 1.3% in October, the Labor Department said Friday. Economists polled by MarketWatch had forecast a 1.4% drop because of plunging global oil prices. Excluding fuel, import prices dipped 0.2% last month. The price of U.S.-made goods exported to other nations, meanwhile, declined by 1% last month%. In September, the drop in import prices was revised down to 0.4% from 0.5%.