U.S. Import Prices Slump 1.2% In September

(RTTNews) - The Labor Department released a report on Friday showing another steep drop in U.S. import prices in the month of September.

The report showed import prices plunged by 1.2 percent in September after tumbling by a revised 1.1 percent in August.

Economists had expected import prices to dive by 1.1 percent compared to the 1.0 percent slump originally reported for the previous month.

The Labor Department said export prices also slid by 0.8 percent in September after plummeting by a revised 1.7 percent in August. Export prices were expected to decrease by 1.0 percent.