Sun, 13 Jun 2021

SEOUL, June 11 (Xinhua) -- Price for imported goods to South Korea rose last month owing to expensive crude oil, central bank data showed Friday.

The import price index stood at 112.41 in May, up 2.6 percent from a month earlier, according to the Bank of Korea (BOK). From a year ago, the index surged 13.8 percent.

It came on the back of the higher price for global crude oil. Dubai crude, South Korea's benchmark, moved up 5.4 percent last month.

Price for imported raw materials spiked 5.9 percent in May from a month ago, and the import price for intermediary products, such as oil products, gained 1.7 percent last month.

The import price for capital and consumer goods added 0.7 percent and 0.4 percent respectively.

The export price index came in at 106.06 in May, up 1.5 percent from the previous month. The index kept increasing for the sixth consecutive month.

More South Korea News

Access More

Sign up for South Korea News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!