Korea's April import price index dip first in 4 mos on softening oil prices

[Photo by Yonhap]

South Korea’s import price index fell 0.9% on month to 147.95 in April, marking the first fall in four months on softening global oil prices, showed the BOK data on Friday. But against a year ago, the index is still up 35%. Import price of metals declined 2.7% and coal/petroleum 5.5% on month, owing largely to a retreat in Dubai crude price that averaged $102.8 per barrel in April vs $110.9 in March. Export price index came to 126.81, up 1.0% on month and 21.4% on year, marking its fourth consecutive month of rise. Price index for machinery/equipment exports gained 1.8% on month, coal/petroleum 1.6%, and chemicals 1.4%.

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