S. Korea's import price rises for 2nd month in August-Xinhua

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  1. S. Korea's import price rises for 2nd month in August

    Source: Xinhua

    Editor: huaxia

    2025-09-16 09:31:45

    SEOUL, Sept. 16 (Xinhua) -- The price for imported goods to South Korea rose for the second successive month due to the local currency's depreciation to the U.S. dollar, central bank data showed Tuesday.

    The import price index gained 0.3 percent in August from a month earlier after going up 0.8 percent in the previous month, according to the Bank of Korea (BOK).

    The consecutive growth was affected by the local currency's descent versus the greenback that offset cheaper crude oil.

    Price for Dubai crude, South Korea's benchmark, averaged 69.39 U.S. dollars per barrel in August, down from 70.87 dollars in the previous month.

    The average won/dollar exchange rate advanced to 1,389.66 won per dollar in August from 1,375.22 won in July.

    Price for imported raw materials dwindled 0.4 percent in August on a monthly basis, marking the first slide in three months.

    Import price for intermediary goods climbed 0.5 percent last month, continuing to increase for the second straight month.

    Price for both imported capital and consumer goods swelled 0.7 precent in the cited month.

    The export price index mounted 0.7 percent in August from a month earlier after expanding 0.8 percent in the prior month.