Import Prices Decline, Labor Says

The price of goods imported to the United States dipped in August on lower oil costs, the Labor Department said Friday.

The 0.3% decline was the first since January and followed a revised 1.3% gain in July, Labor said. Prices excluding petroleum fell 0.1%.

Economists’ estimated import prices would rise 0.2%, Bloomberg reported.

Export prices rose 0.2% after falling 0.1% rise in July.