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S. Korea's import prices down for first time in 3 months amid fall in global oil price Updated: 2022-08-12 13:44:42 KST

With oil prices heading downward, South Korea's import prices have fallen for the first time in three months.
The Bank of Korea says the overall import price index came to one-hundred-53.four-nine, down zero.nine percent from June.
The central bank attributed this to the lower price of oil, with the price of Dubai crude, Korea's benchmark, dropping around nine percent in a month.
Though import prices were down month-on-month, they were up nearly 28 percent on year.
Along with import prices, export prices were down two.one percent from the month before, falling for the first time in seven months.
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