A report released by the Labor Department on Wednesday showed a modest decrease in U.S. import prices in the month of October.
The Labor Department said import prices edged down by 0.2 percent in October after tumbling by a revised 1.1 percent in September.
Economists had expected import prices to fall by 0.4 percent compared to the 1.1 percent slump originally reported for the previous month.
Meanwhile, the report showed export prices dipped by 0.3 percent in October after plunging by a revised 1.5 percent in September.
Export prices were expected to decline by 0.4 percent compared to the 0.8 percent decrease originally reported for the previous month.
