Korea's import prices fall for 5th straight month in June: BOK

Home > Business > Economy

Published: 16 Jul. 2025, 08:45 Updated: 16 Jul. 2025, 15:19

Containers are piled up at a port in Pyeongtaek, Gyeonggi, on July 4. [YONHAP]

Korea's import prices declined for the fifth consecutive month in June mainly due to the won's strength, central bank data showed Wednesday.

The import price index went down 0.6 percent last month from the previous month, following a 3.7 percent drop in May, according to the preliminary data from the Bank of Korea (BOK).

The figure has been on a constant decline since February.

June's decline came as the local currency strengthened against the U.S. dollar to an average of 1,366.95 won in June, from 1,394.49 won in May, while global oil prices posted an on-month increase, the BOK said.

Import prices are a key factor influencing the country's overall inflation as they affect production costs and consumer prices through the supply chain.

The export price index fell 1.1 percent in June from the previous month, marking the third consecutive monthly decline, the data showed.

Yonhap