October Import Prices Fall 2%

November 9, 2006 8:30 AM, EST

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he price of goods imported to the United States fell 2% in October, the Labor Department said Thursday.

The increased followed 2% gain in September, which was the biggest decline in import prices since April 2003. Excluding petroleum, October prices fell 0.6%.

Economists expected prices to fall 1% in October, Bloomberg reported.