S.Korea’s import, export prices rise for 4th consecutive month in October

South Korea’s import and export prices both rose for the fourth consecutive month in October, central bank data showed Monday.

The import price index stood at 83.17 in October, up 0.6 percent from the previous month, according to the Bank of Korea (BOK). The reading kept rising from July on higher crude oil prices.

Dubai crude, South Korea’s benchmark, rose 3.5 percent in October from a month ago.

Prices for imported raw materials gained 1.1 percent, with those for intermediate goods climbing 0.7 percent on a hike in imported coal and oil products.

Imported capital goods prices declined 0.7 percent, while those for imported consumer goods being unchanged in October compared with the prior month.

The export price index added 0.5 percent from a month earlier to 87.17 in October, keeping an upward trend for four straight months.

Export prices for industrial products rose 0.5 percent on higher prices of exported electric and electronic products. Prices for DRAM memory chips jumped 9.1 percent on strong global demand.
Source: Xinhua

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