Forex Pros – U.S. import prices fell for the second month in June, official data showed on Wednesday.
In a report, the Bureau of Labor Statistics said import prices fell 1.3% in June, after advancing 0.5% in May, whose figure was revised up from 0.6%.
Analysts had expected a drop of 0.3% in June.
The report said the drop was due to declining fuel prices, although a downturn in nonfuel prices also contributed to the overall decrease. The decrease was the largest monthly decline since a 1.3% fall in January 2009, which was also the last time the index fell in consecutive months.
Export prices also fell in June, edging down 0.2% following three consecutive monthly increases.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD shedding 0.03% to hit 1.2720.
