Drop in oil prices leads to decline in cost of imports

/wp-content/uploads/2022/11/BR_web_311x311.jpeg

U.S. import prices fell 2.8 percent in January, after declining 1.9 percent in December, with declining fuel prices driving each of the monthly drops, the U.S. Labor Department said today. The price index for U.S. exports decreased 2 percent in January, and has not recorded a monthly advance since July, according to a release.