In August, U.S. import prices fell 0.3% mainly due to a 3.0% drop in fuel costs, suggesting domestic inflation may ease.

In August, U.S. import prices fell by 0.3%, marking the largest decrease in eight months, driven primarily by a 3.0% drop in fuel costs. This decline suggests domestic inflation may continue to ease. Despite mild increases in producer and consumer prices, the Federal Reserve is shifting focus to the labor market, which has slowed since last year's job growth. Export prices also fell by 0.7% in August.