Import Prices Drop 0.2%

The price of goods imported to the United States fell for a seventh straight month in February on lower commodity costs, declining 1.1%, the Labor Department said Friday.

The downturn, the smallest since July, followed a 1.2% decrease in January that was more than expected.

Prices were forecast to fall 0.7%, Bloomberg reported. Excluding oil, prices fell 0.8%.

U.S. export prices fell 0.1%, following a revised 0.5% increase, Labor said.