S.Korea's import price falls on strong local currency

Source: Xinhua| 2019-10-16 09:56:34|Editor: mingmei
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SEOUL, Oct. 16 (Xinhua) -- Price for imported goods to South Korea fell last month on the local currency's ascent to the U.S. dollar, central bank data showed Wednesday.

The import price index shrank 0.4 percent in September from a month earlier, according to the Bank of Korea (BOK).

Price for imported coal and oil products gained 4.2 percent on an expensive crude oil, but other imported goods got cheaper due to the South Korean won's appreciation versus the greenback.

The won/dollar exchange rate averaged 1,197.55 won per dollar in September, down 1,208.98 won in the previous month.

Dubai crude, South Korea's benchmark, advanced 3.4 percent in September from a month ago.

Price for imported computer, electronic and optical devices declined 3.2 percent, with chemical product price sliding 0.9 percent.

The export price index went down 0.8 percent in September from a month earlier on the strong domestic currency.

Price for exported optical devices diminished 1.6 percent, with the figure for chemical products falling 1.6 percent. Semiconductor price also slid 0.9 percent last month.