The U.S. Labor Department released its import and export prices data on Friday. The U.S. import price index fell by 0.1% in September, beating expectations for a 0.5% decrease, after a 1.6% decline in August. August's figure was revised down from a 1.8% drop.

The decline was mainly driven by lower prices on foods, capital goods and nonfuel industrial supplies.

A stronger U.S. currency lowers the price of imported goods.

U.S. export prices declined by 0.7% in September, after a 1.4% fall in August.