US: Import prices decreased 0.4% in June following May's 0.9% increase

"U.S. import prices decreased 0.4 percent in June following a 0.9-percent advance in May," the U.S. Bureau of Labor Statistics reported on Friday.

Key takeaways from the official publication

• The June decline was the largest monthly drop since the index decreased 0.5 percent in February 2016.
• Despite the downturn in June, overall import prices advanced 4.3 percent between  June 2017 and June 2018.   
• U.S. export prices increased 0.3 percent in June, after rising 0.6 percent the previous month.
• Prices for overall exports advanced 5.3 percent over the past 12 months, the largest over-the-year increase since the index rose 6.3 percent in October 2011.