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US Import Prices Slid in August, Offering Some Inflation Relief

US import prices fell for a second straight month in August, offering one source of relief from inflationary pressures, with a strengthening dollar helping to cut the cost of products made abroad.

Prices of imported goods dropped 1% in August from July, marking the first consecutive monthly retreat since the pandemic began in spring 2020. Excluding petroleum, prices dipped 0.2% from July, a Labor Department report showed in Washington Thursday.