Import prices fall for second straight month in April

WASHINGTON (AP) — Prices U.S. importers paid in April fell for the second straight month, pushed lower by another decline in the import of crude oil. Falling import prices helps keep inflation in check.

The Labor Department says import prices fell 0.5% declined last month compared with March, when prices fell 0.2%. It was the largest decline since a 0.6% drop in December. Imported petroleum products fell 1.9%. Excluding petroleum, import costs fell only 0.1%.

Import prices have fallen 2.6% the 12 months ending in April.

The prices U.S. exporters charged dropped 0.7% in April compared with March. The decline was propelled by a 2.2% drop in U.S. farm exports. The past 12 months, export prices have fallen 0.9%.