US Import Prices Unexpectedly Fall in May

INFLATION - WASHINGTON. U.S. import prices import unexpectedly fell in May amid lower prices for energy products, providing another boost to the domestic inflation outlook.

Import prices dropped 0.4% last month after an unrevised 0.9% surge in April, the Labor Department's Bureau of Labor Statistics said on Friday. That was the first decline in import prices since December. Economists polled by Reuters had expected import prices, which exclude tariffs, to edge up 0.1%.