Non-Oil Import Prices Drop Significantly

Prices of imports other than oil showed the largest decline in 1 1/2 years last month, suggesting the U.S. appetite for foreign-made goods is helping contain inflation. The import price index, minus oil, fell 0.3% in September as costs fell for food, business equipment, autos and consumer goods, the Labor Department said. Including petroleum, overall import prices rose 1.5%. Prices of products exported to other countries rose 0.5%. Separately, the number of Americans filing the first time for state unemployment benefits rose by 5,000 last week to 306,000, the Labor Department said.