U.S. import prices post largest drop in nine months

The Labor Department said on Tuesday import prices fell 0.3 percent last month after a downwardly revised 0.4 percent gain in October. Economists polled by Reuters had forecast import prices falling 0.4 percent last month after a previously reported 0.5 percent increase. In the 12 months through November, import prices dipped 0.1 percent, the smallest decrease since July 2014, after slipping 0.3 percent in the 12 months through October.