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Import prices post biggest drop since 2008

Export prices also fall 2% in January, the largest decline in more than three years

Published Fri, Feb 13, 2015 · 09:50 PM
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Washington

US import prices recorded their biggest drop in six years in January as the cost of petroleum and a range of other goods fell, a sign that domestic inflation pressures could remain muted for a while.

The Labour Department said on Friday import prices tumbled 2.8 per cent last month, the largest decline since December 2008, after sliding by a revised 1.9 per cent in December.

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