South Korea’s import prices fell for the third consecutive month in April.
 
According to data from the Bank of Korea on Friday, the country’s import price index posted 140-point-32 in April, down one-point-nine percent from a month earlier.

This follows a zero-point-four percent drop in March and a one percent drop in February.

The central bank attributed the latest decline to a sharp drop in global oil prices, with the price of Dubai Crude, South Korea’s benchmark, falling six-point-six percent month-on-month in April. 

Meanwhile, the export price index fell one-point-two percent month-on-month to 133-point-43 in April, with the South Korean won appreciating zero-point-nine percent on-month against the U.S. dollar during the same time frame.