Import Prices Fall in February

The price of goods imported to the United States fell in February for the first time in seven months, the Labor Department said Tuesday.

The 0.3% decrease followed a revised 1.3% increase in January, Labor said. Prices excluding petroleum rose 0.2%.

Economists estimated import prices would drop 0.2%, Bloomberg reported.

Export prices fell 0.5% after gaining 0.7% in January.