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Financial News: South Korea Import Prices Growth Slows In August

South Korea Import Prices Growth Slows In August

09/16/2022 - 04:39:00 (RTTNews)

(RTTNews) - South Korea's import prices and export prices increased at softer paces in August, data from Bank of Korea showed on Friday.

Import prices rose 22.9 percent year-on-year in August, after a 25.6 percent growth in July.

Price for raw materials grew 44.7 percent annually in August and those of intermediate goods rose 15.6 percent.

Prices for capital goods and consumer goods increased by 7.5 percent and 8.9 percent, respectively.

Export prices increased 13.4 percent annually in August, after a 15.9 percent rise in the previous month.

On a monthly basis, import prices declined 0.9 percent in August, following a 2.6 percent decrease in the preceding month.

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