U.S. import, export prices drop in November

The U.S. Bureau of Labor Statistics said Tuesday U.S. import prices in November fell 0.3 percent from a month prior, resulting from lower fuel prices, while export prices fell 0.1 percent month-over-month due to a drop in non-agricultural prices.    The U.S. Bureau of Labor Statistics reported Tuesday the price indexes for both U.S. imports and exports in November declined from a month prior.
   U.S. import prices in November slipped 0.3 percent month-over-month, driven down by lower fuel prices. Economists polled by Reuters anticipated import prices would fall 0.4 percent.
   U.S. fuel import prices for the month tumbled 3.9 percent from October, as a 4.7 percent drop in petroleum prices more than offset a 10.6 percent increase in natural gas prices.
   The nation’s non-fuel import prices slipped 0.1 percent month-over-month, as declining prices for finished goods and non-fuel industrial supplies more than offset higher foods, feeds and beverage prices.
   Meanwhile, U.S. export prices fell 0.1 percent from October, resulting from the drop in non-agricultural prices.
   Agricultural export prices rose 0.6 percent month-over-month thanks to a rise in vegetable prices.
   However, non-agricultural export prices fell 0.1 percent from October due to lower prices for non-agricultural industrial supplies and materials, and consumer goods.