Korea’s import prices fall for second straight month in September

Korea's import prices fell for a second straight month in September due to a fall in global oil prices and the strengthening Korean won, central bank data showed Tuesday.

The import price index declined 2.2 percent last month from a month earlier following a 3.5 percent on-month fall the previous month, according to preliminary data from the Bank of Korea (BOK).

From a year earlier, import prices also fell 3.3 percent last month following a 1.8 percent on-year advance the previous month, the data showed.

Import prices are a major factor that determines the path of the country's overall rate of inflation.

Yonhap