Financial News: South Korea Import Prices Fall In February

South Korea Import Prices Fall In February

03/14/2023 - 11:22:00 (RTTNews)

(RTTNews) - South Korea's import prices and export prices dropped in February, data from Bank of Korea showed on Tuesday.

Import prices fell 0.5 percent year-on-year in February, after a 1.9 percent increase in January. The latest decline was the first since a 0.3 percent fall in February 2021.

On a monthly basis, import prices grew 2.1 percent in January, reversing a 2.1 percent decline in the previous month.

Export prices decreased 2.7 percent annually in February, after a 1.2 percent drop in the previous month. Prices fell for a second month in a row.

On monthly basis, the export prices rose 0.7 percent in January and marked the first increase in four months.

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