South Korea’s export and import prices increased last month by more than two percent from a month earlier.
According to the Bank of Korea on Friday, the export price index stood at 103-point-16 in May, up by two-point-six percent from April.
The import price index came to 113-point-66, rising two-point-two percent from a month earlier.
The central bank attributed the gain to a rise in the won-dollar exchange rate, which rose by 42-point-34 won on average from April to one-thousand-183-point-29 won per dollar.
Export prices of major industrial goods rose two-point-six percent on average, with mobile phone and recreational vehicle prices going up three-point-seven percent and three-point-two percent, respectively.
The export price of dynamic random access memory(DRAM) products, however, inched down by a half percentage point amid a global price decline of memory chips.