emirates7 - Import prices in South Korea fell for the fifth straight month in June, largely due to the strength of the Korean won, according to data released Wednesday by the Bank of Korea (BOK).
Preliminary figures showed that the import price index declined by 0.6 percent in June compared to May, when it had dropped 3.7 percent. Yonhap News Agency noted that import prices have been consistently falling since February.
Import prices play a significant role in shaping the country's inflation levels, as they influence both production costs and consumer prices throughout the supply chain.
Meanwhile, the export price index also saw a decline of 1.1 percent in June from the previous month, marking its third consecutive monthly decrease.
Preliminary figures showed that the import price index declined by 0.6 percent in June compared to May, when it had dropped 3.7 percent. Yonhap News Agency noted that import prices have been consistently falling since February.
Import prices play a significant role in shaping the country's inflation levels, as they influence both production costs and consumer prices throughout the supply chain.
Meanwhile, the export price index also saw a decline of 1.1 percent in June from the previous month, marking its third consecutive monthly decrease.