washington dec 14 reuters  us import prices fell for a fifth straight month in november weighed down by decreases in the costs of petroleum products and a range of other goods supporting the view that inflation could continue to moderate in the months ahead import prices dropped 06 last month after declining 04 in october the labor department said on wednesday economists polled by reuters had forecast import prices which exclude tariffs would fall 05 in the 12 months through november import prices increased 27 the smallest gain since january 2021 after rising 41 in october the government reported on tuesday that consumer prices increased moderately in november the federal reserve  in the midst of its fastest interest rate hiking cycle since the 1980s  is expected to lift its policy rate by 50 basis points later on wednesday snapping a string of four straight 75basispoint hikes imported fuel prices fell 28 last month after dropping 27 in october petroleum prices decreased 33 while the cost of imported food rebounded 18 excluding fuel and food import prices fell 06 these socalled core import prices dipped 01 in october core import prices are being depressed by the dollars strength against the currencies of the united states main trade partners the dollar has gained about 62 on a tradeweighted basis this year