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Import Prices Rise for Second Month in June

Written: 2022-07-15 08:24:07Updated: 2022-07-15 09:50:12

Import Prices Rise for Second Month in June

Photo : YONHAP News

South Korea's import prices rose for the second straight month in June due to an increase in crude oil prices.

According to data from the Bank of Korea on Friday, the country's import price index marked 154-point-84 in June, up zero-point-five percent from a month earlier.

The index posted growth for a second month, although the growth slowed from a rise of three-point-eight percent in May.

From a year ago, the reading soared 33-point-six percent.

The rise in the June reading is attributed to an increase in global oil prices. The prices of Dubai crude, South Korea's benchmark, increased by four-point-seven percent last month from a month earlier, pushing up prices of mining products by three-point-eight percent.

The export price index also rose one-point-one percent on-month to 132-point-81 in June, posting growth for the sixth consecutive month. From a year ago, the reading rose 23-point-seven percent.

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