U.S. import prices decline 0.5% in October, 4th drop in row

The prices the U.S. paid for imported goods fell by 0.5% in October to mark the fourth decline in a row. Excluding fuel, import prices fell by 0.3%, the Labor Department said Tues day. The price of U.S.-made goods exported to other nations dipped 0.2% last month. In the past 12 months import prices have dropped 10.5%, owing to lower oil costs and a stronger dollar that makes foreign goods less expensive. Import prices are down a 3.2% excluding fuel during the same span.