S.Korea's import price rebounds in 3 months on expensive crude

Source: Xinhua| 2019-02-19 09:24:52|Editor: Shi Yinglun
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SEOUL, Feb. 19 (Xinhua) -- South Korea's import price rebounded in three months on expensive crude oil, central bank data showed Tuesday.

The import price index stood at 84.98 in January, up 0.1 percent from a month earlier, according to the Bank of Korea (BOK). From a year earlier, the reading advanced 2.5 percent.

The first rebound in three months came as Dubai crude, South Korea's benchmark, gained 3.1 percent from a month earlier to 59.09 U.S. dollars per barrel in January.

Prices for imported raw materials went up 1.2 percent, but the price for intermediate goods shrank 0.6 percent.

The prices for imported capital and consumer goods rose 0.6 percent and 0.1 percent each in January from a month earlier.

Meanwhile, the export price index fell 1 percent over the month to 82.95 in January, the lowest in 27 months.

Prices for exported electric and electronic products, including semiconductor, declined 3.3 percent in January from a month ago. DRAM memory chip price tumbled 14.9 percent, marking the biggest price fall in about seven and a half years.

Export price for industrial goods shed 1 percent, but exported farm goods price added 0.4 percent on a monthly basis.