Import Prices Rise in September for the First Time in Four Months Due to Falling Exchange Rates but Rising Oil Prices
6 Articles
6 Articles
The Bank of Korea announced on the 16th that import prices in Korean won rose 1.7% in September compared to the previous month. This marks a turnaround after falling for three months since June (-4.2%). Compared to the same month last year, the figure stands at 17.6%. Rising import prices tend to drive up consumer prices after a time lag. The Bank of Korea attributes this to the sharp rise in international oil prices over the past month.
(Seoul = Yonhap News) Reporter Lee Do-heun = Although the won/dollar exchange rate fell last month, the import price index rose for the first time in four months as international oil prices rose sharply.
Import Prices Reverse to Rise in September Despite Falling Exchange rate... Due to Rising Oil Prices
Despite the downward trend in the won-dollar exchange rate, import prices in September reversed course and rose. This was due to the greater impact of rising international oil prices. This factor is expected to place an additional burden on domestic price management. The Bank of Korea announced on the 16th that preliminary figures showed import prices (in won) rose 1.7% in September compared to the previous month.
As international oil prices soared by over 28% in the past month, the import price index for September rose 1.7% from the previous month, marking a turnaround after four months of decline. According to the 'Export and Import Price Index and Trade Index for September 2026 (Provisional)' released by the Bank of Korea on the 16th, the import price index in won terms stood at 159.37 (2020=100) last month, a 1.7% increase from the previous month. Th…
Import Prices Rise for the First Time in Four Months as International Oil Prices Surpass $100 Again.
Import prices rose for the first time in four months as international oil prices surpassed $100 per barrel again last month due to the worsening situation in the Middle East. This was influenced by a surge in crude oil import prices, despite a decline in the won-dollar exchange rate. Oil price information is displayed at a gas station in downtown Seoul on the 10th of last month, when international oil prices broke through $100 amidst escalating …
Import prices turned upward last month for the first time in four months.
Coverage Details
Bias Distribution
- 67% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
