Import prices in South Korea declined in June, extending their on-year fall to 34 straight months, due mainly to weaker global oil prices, data showed Friday.
In local currency terms, import prices dropped 14 percent in June from the previous year, slightly slowing from a 14.6 percent on-year drop in May, according to the preliminary data from the Bank of Korea.
The data showed that import prices of coal and oil products plunged 33.4 percent on-year in June, compared with a 31.7 percent fall a month earlier.
Export prices, meanwhile, fell 2.2 percent on-year in June, decelerating from a 3.5 percent fall in the previous month. On a monthly basis, they gained 1.2 percent in tandem with the dollar’s rise. (Yonhap)
S. Korea’s import prices continue to fall in June
