Import Prices Fall for Fourth Month

The price of goods imported to the United States fell in July for a fourth consecutive month, the Labor Department reported Friday.

The 0.6% decrease followed a 2.4% decline in June.

Economists had forecast a 0.2% rise, Bloomberg reported.

Petroleum and refined products fell 1.6%. Prices excluding petroleum dipped 0.4%.

Imported food costs declined 1.6%, while automobiles and parts rose 0.4%.

U.S. export prices climbed 0.5% in July, Labor said.