Year over year, the import price index gained 6.7%, short of the 8.2% expected by analysts.

FORBES: Market Scan

Separately, the January import price index rose 1.7%, higher than expected, while the export price index rose 1.2%.

FORBES: Magazine Article

"Some good news also was the sharp decline in the August import price index, " Stone said of the 3.7% drop, well ahead of Wall Street's 1.8% expectation.

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Separately, the U.S. Labor Department said the October import price index fell 4.7% month over month, a few ticks more than the 4.4% drop expected by Wall Street, for the biggest one-month drop since 1988.

FORBES: Market Scan