Import Prices Rise 1.3%

The price of goods imported to the United States rose for a third straight month in May as oil prices continued to increase, the Labor Department said Friday.

The 1.3% climb followed a revised 1.1% increase in April. Prices excluding fuels rose 0.2%, while being down 5.8% on an annual basis, the largest drop since records began in 1985, Bloomberg said.

May prices were forecast to rise 1.4%, Bloomberg reported.