South Korea's Import Prices Slide in April
In April 2025, import prices in South Korea experienced a notable decline of 2.3% year-over-year, a stark contrast to the 3.4% increase recorded in March. This downturn marks the end of a five-month period of rising prices. The primary factors contributing to this decrease were the reduction in global oil prices and the strengthening of the Korean won. Specifically, raw material prices saw a significant drop of 11.5%, further deepening from the 2.5% decrease seen the month prior. In addition, there was a slowdown in price growth across various categories: consumer goods rose by 4% compared to 6.1% the previous month, intermediate goods increased by 1% down from 6.1%, and capital goods climbed by 5.5%, down from 6.8%. On a month-to-month basis, import prices decreased by 4.3% in April, following a 3.4% decline in March, marking the third consecutive month of reductions, largely reflecting the similar dip in global oil prices.
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