US import prices post the biggest drop in 6 months

U.S. import prices fell by the most in six months in June, pulled down by declines in the costs of petroleum and other goods, suggesting imported inflation remained subdued.

The Labor Department said on Tuesday import prices dropped 0.9% last month, the biggest decrease since December. Data for May was revised up to show import prices unchanged instead of decreasing 0.3% as previously reported.

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