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S. Korea's import price rebounds in July

SEOUL
2023-08-17 09:37

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SEOUL, Aug. 17 (Xinhua) -- Price for imported goods to South Korea marked the first rebound in three months due to higher prices for global crude oil, central bank data showed Thursday.

The import price index rose 0.4 percent in July from a month earlier after sliding 3.1 percent in May and 3.9 percent in June, according to the Bank of Korea.

The price for imported raw materials advanced 3.1 percent last month on expensive crude oil.

Dubai crude, South Korea's benchmark, averaged 80.45 U.S. dollars per barrel in July, up from 74.99 dollars a month earlier.

The average won/dollar exchange rate slipped to 1,286.30 won per dollar in July from 1,296.71 won in the previous month.

Price for imported intermediary goods, including oil products, declined 1.1 percent on cheaper chemical and metal products.

Import prices for coal and oil products gained 1.3 percent in July after tumbling 10.1 percent in the prior month.

Prices for imported capital and consumer goods retreated 0.3 percent and 0.5 percent, respectively.

The export price index added 0.1 percent in July on a monthly basis, after falling 1.5 percent in May and 3.2 percent in June.
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