Prices for imported products in South Korea rose for three straight months in September due mainly to more expensive crude oil, central bank data showed Wednesday.
The import price index stood at 82.62 in September, up 1.7 percent from a month earlier, according to the Bank of Korea (BOK). It continued to rise from July, marking the highest in seven months.
The import prices are reflected in consumer prices with a certain time gap. Higher import prices were attributed to more expensive crude oil, which affects the broad range of products manufactured here.
Dubai crude, South Korea's benchmark, averaged 53.66 U.S. dollars per barrel in September, up 6.8 percent from a month earlier.
Prices for imported raw materials increased 2.7 percent, with those for intermediate products rising 1.8 percent.
Those for imported capital and consumer goods inched up 0.2 percent and 0.3 percent each last month.
Meanwhile, the export price index gained 0.9 percent in September from the previous month, continuing to rise for the third consecutive month.
The import price index stood at 82.62 in September, up 1.7 percent from a month earlier, according to the Bank of Korea (BOK). It continued to rise from July, marking the highest in seven months.
The import prices are reflected in consumer prices with a certain time gap. Higher import prices were attributed to more expensive crude oil, which affects the broad range of products manufactured here.
Dubai crude, South Korea's benchmark, averaged 53.66 U.S. dollars per barrel in September, up 6.8 percent from a month earlier.
Prices for imported raw materials increased 2.7 percent, with those for intermediate products rising 1.8 percent.
Those for imported capital and consumer goods inched up 0.2 percent and 0.3 percent each last month.
Meanwhile, the export price index gained 0.9 percent in September from the previous month, continuing to rise for the third consecutive month.
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