ZCZC
BCN-35
S.KOREA-OIL-IMPORT-PRICE
S.Korea’s import prices keep rising for 6 months on expensive crude oil
SEOUL, July 13, 2018 (BSS/Xinhua) – Prices for imported goods to South
Korea kept rising for six straight months on expensive crude oil, central
bank data showed Friday.
The import price index stood at 88.26 in June, up 1.3 percent from a month
earlier, according to the Bank of Korea (BOK).
The import prices gained for the first six months of this year, but the
growth pace slowed down compared with 2.7 percent rise in May as global crude
oil prices slightly went down.
Dubai crude, South Korea’s benchmark, averaged 73.61 U.S. dollars per
barrel in June, down from 74.41 dollars in May.
The domestic currency’s depreciation to the U.S. dollar contributed to
higher import costs. The won/dollar exchange rate averaged 1,092.8 won per
dollar in June, up 1.5 percent from the previous month.
Price for imported raw materials rose 1.4 percent in June from a month
earlier, while those for capital and consumer goods gained 0.7 percent and
1.0 percent, respectively.
BSS/XINHUA/HR/1110