Import prices in the U.S. saw further downside in the month of August, according to a report released by the Labor Department on Thursday.
The Labor Department said import prices slid by 1.0 percent in August after tumbling by a revised 1.5 percent in July.
Economists had expected import prices to decrease by 1.2 percent compared to the 1.4 percent slump originally reported for the previous month.
Meanwhile, the report showed export prices dove by 1.6 percent in August after plummeting by a revised 3.7 percent in July.
Export prices were expected to decline by 1.1 percent compared to the 3.3 percent plunge originally reported for the previous month.
