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Partly reflecting a steep drop in fuel prices, the Labor Department released a report on Tuesday showing U.S. import prices fell by more than expected in the month of June.
The Labor Department said import prices tumbled by 0.9 percent in June, while revised data showed prices were unchanged in May.
Import prices had been expected to drop by 0.7 percent compared to the 0.3 percent decrease originally reported for the previous month.
The report also showed a continued decrease in export prices, which slumped by 0.7 percent in June after dipping by 0.2 percent in May. Economists had expected another 0.2 percent drop.
