S. Korea's import price rebounds in February
Mar 14, 2023
Seoul [South Korea], March 14: Price for imported goods to South Korea rebounded last month on local currency's depreciation to the U.S. dollar and higher crude oil price, central bank data showed Tuesday.
Import price index gained 2.1 percent in February from a month earlier, after retreating 2.1 percent in January, 6.5 percent in December and 5.5 percent in November each, according to the Bank of Korea (BOK).
The average won/dollar exchange rate added to 1,270.74 won per dollar in February from 1,247.25 won in the prior month.
Dubai crude, South Korea's benchmark, averaged 82.11 U.S. dollars per barrel in February, up from 80.42 dollars in the previous month.
Price for imported raw materials increased 2.2 percent last month, and intermediary goods price climbed 2.3 percent on higher prices for oil and chemical products.
Import prices for capital and consumer goods advanced 1.4 percent and 1.7 percent respectively. Export price index rose 0.7 percent in February on a monthly basis, marking the first rebound in four months.
Source: Xinhua
