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U.S. import prices fell 0.2 percent in February

Published 03/13/2009, 08:34 AM
Updated 03/13/2009, 08:40 AM

WASHINGTON, March 13 (Reuters) - U.S. import prices fell by a smaller-than-expected margin in February as petroleum costs rebounded for the first time in six months, a government report showed on Friday.

The Labor Department said import prices slipped 0.2 percent, the smallest decrease since last July, after falling by a revised 1.2 percent in January. The February drop was smaller than market expectations for a 0.8 percent decline.

Imported petroleum prices rose 3.9 percent in February, advancing for the first time since last July, after dropping by 4.2 percent the prior month.

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)

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