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Import prices continue to fall

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Import prices continue to fall

Strong dollar helps drive prices lower; export prices also fall.

US import prices fell for the tenth straight month in April due to continued moderation in oil and other petroleum products and the strengthening of the US dollar.

The Labor Department reported today that import prices fell 0.3% last month after falling 0.2% in March.

Analysts had expected an increase of 0.3%.

In the twelve months through April, import prices have fallen a whopping 10.7%.

Meanwhile, export prices also fell in April, declining 0.7% after rising 0.1% in March.  For the twelve months through April, export prices have fallen 6.3%.

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