RTRS: US import, export prices fall fifth straight month
U.S. import and export prices both fell for the fifth consecutive month in December, as costs for oil and many non-petroleum products tumbled, the U.S. Labor Department said on Wednesday.
Import prices dropped 4.2 percent after falling by a revised 7.0 percent in November. The December drop was less than the 5.3 percent decline expected by Wall Street analysts.
Over the past year, import prices have plunged a record 9.3 percent as global economic turmoil has cut into business and consumer demand. (Reporting by Doug Palmer; editing by Tom Hals)
