Import prices fell 1.1 percent in January and 23.4 percent over the past six months, according to the U.S. Department of Labor.
For the sixth consecutive month, prices for both petroleum and nonpetroleum products decreased. Petroleum prices fell 2.4 percent and nonpetroleum prices fell 0.8 percent in January. However, prices for both overall imports and petroleum decreased at a smaller rate in January than in each of the previous five months since prices last rose in July.
