Price of Imported Goods Drops by Most in Two Years
The price of imported goods posted its biggest drop in more than two years, the U.S. Labor Department reported Nov. 14.
The cost dropped 1.3% percent in October, marking the fourth consecutive decrease, Bloomberg News reported.
October’s decline follows a 0.6% drop the prior month.
Prices have dropped 1.8% over the past 12 months, the largest year-to-year retreat since last November, according to Bloomberg.
Export prices declined 1% in October, the largest one-month drop for the index since 1.7% in June 2012, the Labor Department reported.
