Import Prices Drop 1.3% in June

The price of goods imported to the United States fell 1.3% in June, the most since January 2009, the Labor Department said Wednesday.

The decline followed a revised 0.5% fall in May that was lower than originally reported.

Economists had forecast prices to fall 0.6% in June, matching the previously reported May figure, Bloomberg reported. Excluding petroleum, prices declined 0.6%.

U.S. export prices fell 0.2%, following a 0.6% gain in May, Labor said.