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    12.02.2016 13:53 U.S. import price index falls 1.1% in January

    The U.S. Labor Department released its import and export prices data on Friday. The U.S. import price index fell by 1.1% in January, beating expectations for a 1.4% decrease, after a 1.1% decline in December. December's figure was revised up from a 1.2% drop.


    The decline was mainly driven by lower prices for fuel imports, which slid 13.4% in January.


    A strong U.S. currency lowers the price of imported goods.


    U.S. export prices declined by 0.8% in January, after a 1.1% fall in December.

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