Price for imported goods to South Korea rose for the third consecutive month owing to expensive crude oil and the local currency’s depreciation versus the U.S. dollar, central bank data showed Tuesday.
The import price index advanced 2.9 percent in September from a month earlier after picking up 0.2 percent in July and 4.2 percent in August, according to the Bank of Korea (BOK).
Price for imported raw materials gained 5.7 percent last month on higher crude oil price and the domestic currency’s descent to the greenback.
Dubai crude, South Korea’s benchmark, averaged 93.25 U.S. dollars per barrel in September, up 7.9 percent from a month ago.—Xinhua
