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Import prices fall on oil slump

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Import prices fall on oil slump

Decline in line with analyst expectations.

U.S. import prices fell sharply in August due to continued moderation in oil and other petroleum products, which offset increases in the cost of food.

The Labor Department reported today that import prices fell 0.9% last month after falling 0.3% in July.

The results were in line with analyst expectations.

In the 12 months through August, prices dropped 0.4%.

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