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S. Korea's import price falls in February

0 Comment(s)Print E-mail Xinhua, March 14, 2025
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SEOUL, March 14 (Xinhua) -- Price for imported goods to South Korea fell in February due to cheaper crude oil and the local currency's appreciation versus the U.S. dollar, central bank data showed Friday.

Import price index slipped 0.8 percent in February from a month earlier, after going up for the past four months, according to the Bank of Korea (BOK).

Price for Dubai crude, South Korea's benchmark, averaged 77.92 U.S. dollars per barrel in February, compared to 80.41 dollars in the previous month.

The average won/dollar exchange rate reached 1,445.56 won per dollar in February, compared to 1,455.79 won in the prior month.

Price for imported raw materials dived 2.3 percent in February on a monthly basis, turning downward in five months.

Import price for intermediary goods dipped 0.2 percent last month on the back of lower price for chemical products and electrical equipment as well as computer, electronic and optical devices.

Price for imported capital goods increased 0.3 percent, but consumer goods price retreated 0.2 percent in the cited month.

Export price index shrank 0.6 percent in February from a month ago, marking the first reduction in five months. Enditem

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