Japan’s central bank revealed that import prices in South Korea rose for the third consecutive month last April largely due to a weak South Korean won and higher crude oil prices.
The import price index rose 0.7% in April compared to the previous month, after an increase of 0.8% in March.
The rise came with a weak won against the United States dollar, raising the cost of overseas purchases, including crude oil.
Import prices are a key factor determining the course of the country’s overall inflation rate.
Meanwhile, South Korea’s consumer prices grew at their slowest pace in more than a year in April, the latest sign of declining inflation.
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