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Import Prices Post First Drop in Four Months

Written: 2022-05-13 08:34:48Updated: 2022-05-13 11:06:53

Import Prices Post First Drop in Four Months

Photo : YONHAP News

South Korea's import prices fell for the first time in four months in April with a slight fall in crude oil prices last month.

According to data from the Bank of Korea on Friday, the country's import price index marked 147-point-95 in April, down zero-point-nine percent from a month earlier.

While the reading marked the first on-month fall in four months, it was a 35 percent gain from a year ago.

The fall in the April reading is attributed to a drop in global oil prices, which fell about seven percent last month, pulling down prices of coal and petroleum prices by five-point-five percent.

The export price index, however, rose one percent on-month to 126-point-81 in April, the highest since April 2009. The reading posted growth for the fourth consecutive month. From a year earlier, it rose 21-point-four percent.

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