November Import, Export Prices Fall, Labor Says

he price of goods imported into the United States fell 1.7% in November, reflecting lower oil prices, the Labor Department reported Wednesday.

The price drop followed a 0.3% increase in October. Excluding petroleum, prices dropped 0.2%.

The overall decline was greater than the 0.5% predicted by economists, Bloomberg reported.

Meanwhile, prices for U.S. goods exported to other countries fell 0.9%, following a 0.7% rise in October.