The country’s import and export prices both declined in November due to a fall in global oil prices and the won’s appreciation against the U.S. dollar.

According to data released by the Bank of Korea on Wednesday, the country's import price index marked 135-point-11 in November, down four-point-one percent from a month earlier to post the first decline in five months.

The export price index also dropped three-point-two percent from October to stand at 116-point-45 last month.

Compared to the same period last year, the import price index slipped eight-point-five percent while the export price index dropped seven-point-two percent.

A fall in global oil prices and the won’s appreciation against the dollar drove the decrease in the two indexes, with the price of Dubai Crude, South Korea's benchmark, falling six-point-nine percent in November and the won strengthening against the dollar three percent last month.