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The U.S. Labor Department released its import and export prices data on Thursday. The U.S. import price index fell by 0.4% in November, beating expectations for a 0.7% decrease, after a 0.3% decline in October. October's figure was revised up from a 0.5% drop.
The decline was mainly driven by lower prices for fuel imports, which slid 2.5% in November.
A strong U.S. currency lowers the price of imported goods.
U.S. export prices declined by 0.6% in November, after a 0.2% fall in October.
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