(Reuters) – Import prices fell in April due to a drop in oil costs, a positive sign for household finances that also pointed to benign inflation pressures.

Import prices slipped 0.5 percent last month, the biggest decline since December, the Labor Department said on Tuesday. March’s data was revised to show a 0.2 percent decline instead of the previously reported 0.5 percent drop.

Economists polled by Reuters had expected prices to fall 0.5 percent last month. In the 12 months to April, import prices fell 2.6 percent.  Read more