(Sharecast News) - The cost of goods purchased overseas by the US declined unexpectedly in May.
According to the Department of Labor, the country's Import Price index fell at a month-on-month pace of 0.4% (consensus: +0.1%).
Fuel import prices registered a 2.0% drop versus April while those for other goods slipped by 0.3%.
In year-on-year terms, import prices were ahead by 1.1%.
Export prices meanwhile fell by 0.6% on the back of a 0.8% decline in those of non-agricultural goods.
Agricultural exports on the other hand experienced a gain of 0.5%.
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