The Bank of Korea announced on Dec. 15 that South Korea’s import price index was 148.07 in November, down 5.3 percent from the previous month.
The index fell in three months, with the Korean won-U.S. dollar exchange rate and international oil prices falling together. The average exchange rate was 1,426.66 won in October and 1,364.1 won in November. The Dubai crude price fell 5.4 percent to US$86.26 per barrel.
The import price index of raw materials fell 8 percent and those of intermediate, capital and consumer goods fell 4 percent, 2.8 percent and 3 percent, respectively. More specifically, meat fell 9.6 percent, corn 4.8 percent, crude oil 9.5 percent, jet fuel 17.9 percent, and non-personal computer 6.1 percent.
Still, the index rose 14.2 percent compared to the same month of the previous year. The export price index was 125.82 in November this year, down 5.2 percent from the previous month.