The import price index slipped 1.3 percent in February from a month earlier, according to the Bank of Korea (BOK). From a year ago, the index dipped 0.9 percent.
It was attributed to lower oil price. Dubai crude, South Korea's benchmark averaged 54.23 U.S. dollars per barrel in February, down 15.7 percent from the previous month.
Price for imported crude oil retreated 13.6 percent, with the figure for jet fuel skidding 11.1 percent in the month.
The export price index gained 1.2 percent in February from a month earlier as the local currency weakened versus the U.S. dollar.
The won/dollar exchange rate averaged 1,193.79 won per dollar in February, up from 1,164.28 won in January.
Export price for DRAM memory chips rebounded 2.8 percent, marking the fastest increase since July 2018.
Price for exported coal and oil products slumped 8.1 percent last month on cheaper crude oil.
Latest comments