South Korea's import prices fell to their lowest level in 18 months last June.
According to South Korea's Central Bank data, the decline continues on a monthly basis for the second consecutive month, thanks to the strength of the Korean won currency and stable oil prices.
Import price index for June was 130.49 points, down 3.4 percent from May, the lowest since December 2021. The index also fell 15.7 percent year-on-year compared to the previous year, marking the largest decline since April 2015.
Import prices for coal and petrochemical goods fell by 6.3 per cent on a monthly basis last month. Crude oil import prices also fell by 10.1 percent last month as well.
The country's export price index also fell 2.8 percent on a monthly basis in June, mainly due to a decline in oil-related commodity prices. Data showed that the index also fell by 14.7 percent year-on-year.
Last month, the dollar averaged 1,296.71 won, up 2.4 per cent from the previous month.
Source: Qatar News Agency