Import Prices Fall in June

Washington, DC, July 13, 2011 -- Prices of goods imported into the U.S. dropped in June for the first time in a year as oil and food expenses retreated.

The 0.5% fall in the import-price index followed a revised 0.1% gain in May, Labor Department figures showed.

Economists projected a 0.6% decrease for June. Prices excluding petroleum fell 0.2%, the first decline since July 2010.