Investing.com - U.S. import prices fell unexpectedly in May, declining for the third consecutive month, official data showed on Thursday.
In a report, the U.S. Bureau of Labor Statistics said U.S. import prices fell by a seasonally adjusted 0.6% in May, defying expectations for a 0.1% increase.
Import prices for April was revised down to a 0.7% drop from a previously reported decline of 0.5%.
Year-over-year, U.S. import prices fell at an annualized rate of 1.9% last month, compared to expectations for a 1.4% drop.
Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.25% to trade at 1.3303.
Meanwhile, U.S. stock future indices pointed to a lower open. The Dow Jones Industrial Average futures pointed to loss of 0.2%, S&P 500 futures indicated a decline of 0.3%, while the Nasdaq 100 futures signaled a loss of 0.3%.
In a report, the U.S. Bureau of Labor Statistics said U.S. import prices fell by a seasonally adjusted 0.6% in May, defying expectations for a 0.1% increase.
Import prices for April was revised down to a 0.7% drop from a previously reported decline of 0.5%.
Year-over-year, U.S. import prices fell at an annualized rate of 1.9% last month, compared to expectations for a 1.4% drop.
Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.25% to trade at 1.3303.
Meanwhile, U.S. stock future indices pointed to a lower open. The Dow Jones Industrial Average futures pointed to loss of 0.2%, S&P 500 futures indicated a decline of 0.3%, while the Nasdaq 100 futures signaled a loss of 0.3%.