13 January 2012, 18:26  U.S. import prices edge down

With prices for U.S. fuel imports pulling back in December after showing a sharp increase in the previous month, the Labor Department released a report on Friday showing a modest drop in overall import prices. Export prices also fell during the month due to a notable decrease in prices for agricultural exports. The Labor Department said imports prices edged down by 0.1 percent in December after rising by an upwardly revised 0.8 percent in November. The drop was largely due to a 0.5 percent decrease in prices for fuel imports. Additionally, the report showed that export prices fell by 0.5 percent in December following a 0.1 percent increase in November.

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