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S. Korea's import price rebounds in June

SEOUL
2024-07-16 12:36

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SEOUL, July 16 (Xinhua) -- Price for imported goods to South Korea rebounded last month due to the local currency's depreciation versus the U.S. dollar, central bank data showed Tuesday.

The import price index rose 0.7 percent in June from a month earlier after sliding 1.3 percent in the previous month, according to the Bank of Korea (BOK).

The average won/dollar exchange rate increased to 1,380.13 won per dollar in June from 1,365.39 won in May.

Dubai crude, South Korea's benchmark, averaged 82.56 U.S. dollars per barrel last month, down from 84.04 dollars tallied a month earlier.

Price for imported raw materials went up 0.6 percent in June on a monthly basis after retreating 3.2 percent in the prior month.

Import price for intermediary goods, including oil products, increased 0.8 percent last month owing to higher prices for oil and chemical products.

Prices for imported capital and consumer goods were up 0.5 percent and 0.7 percent each in the cited month.

The export price index added 0.9 percent in June on a monthly basis, turning around from a fall of 0.6 percent in the previous month.
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