South Korea’s import prices fell for the second consecutive month in March.
 
According to data from the Bank of Korea on Wednesday, the country’s import price index reached 143-point-04 in March, down zero-point-four percent from a month earlier.

This follows a zero-point-eight percent drop in February.

The central bank attributed the fall to a sharp drop in global oil prices, with the price of Dubai Crude, South Korea’s benchmark, falling seven percent month-on-month in March. 

Meanwhile, the export price index rose zero-point-three percent month-on-month to 135 in March due to the depreciation of the South Korean won, which weakened zero-point-eight percent on-month against the U.S. dollar last month.