Import prices rose 2.2% due to rising oil prices and exchange rates ↑...Maximum in 6 months

Import prices soared last month as oil prices and the won-dollar exchange rate rose, the biggest jump in six months.

According to the Export-Import Price Index statistics released by the Bank of Korea today (13th), the import price index last month was 137.61, up 2.2% from September.

This is the biggest rebound in three months since April's 3.8%.

By item, mining products rose 4.4%, coal and petroleum products 4.1%, and metal products 2.9%.

The Bank of Korea explained that import prices have risen, mainly in mining products such as crude oil, due to rising international oil prices and the won-dollar exchange rate.

It added that the impact on consumer prices is reflected with a time lag of several months, but the market price or width may vary depending on business management conditions, pricing policies and government price policies.

Regarding the November forecast, oil prices fell from last month, but the exchange rate rose further and global economic uncertainty grew, making it difficult to predict.