By Jeffry Bartash
WASHINGTON (MarketWatch) - The cost of U.S. imports dropped 0.4% in August, the Labor Department reported Tuesday. Economists surveyed by MarketWatch had forecast import prices to fall 1.0%. Import prices rose 0.3% in July and fell 0.7% in June. The cost of imports have fallen in two of the past three months mainly because of lower fuel prices, which declined 1.8% in August. Price-import data is viewed as key indicator of whether inflation is rising or falling. Imports excluding fuel rose 0.2% last month, however.
