XINHUA – Price for imported goods to South Korea fell for the second straight month in September on cheaper crude oil and the local currency’s appreciation versus the US dollar, central bank data showed yesterday.
Import price index slipped 2.2 per cent in September from a month earlier after going down 3.5 per cent in the previous month, according to the Bank of Korea (BOK).
Dubai crude, South Korea’s benchmark, averaged USD73.52 per barrel in September, down from USD77.60 in August.
The average won/dollar exchange rate rose to KRW1,334.82 per dollar in September from KRW1,354.15 in the prior month.
Price for imported raw materials declined 3.4 per cent in September on a monthly basis.
Import price for intermediary goods dipped 2.1 per cent last month owing to lower prices for oil products, chemicals, primary metal products, electrical equipment, computers, electronic and optical devices.
