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Rising global oil prices push up South Korea’s import prices in April

Rising global oil prices push up South Korea’s import prices in April


South Korea’s import prices posted a fourth
consecutive month of growth in April on the back of rising global oil prices. The Bank of Korea says the country’s import
price index gained one-point-two percent on-month in April, the highest on-month gain since
September last year. Dubai crude, South Korea’s benchmark oil price,
soared nearly nine percent on-month to an average of more than 68 U.S. dollars a barrel
last month. The export price index in April remained similar
to that of the previous month’s, recording 83-point-eight-five.

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