South Korea's April import prices fall at same pace vs March

[SEOUL] South Korea's import prices in April dropped at the same pace in annual terms as the previous month, central bank data showed on Wednesday, enabling the central bank to keep its expansionary monetary policy amid low inflation.

Import prices in won terms fell 17.1 per cent in April compared with a year earlier, down for the 32nd month in a row, data from the Bank of Korea showed.

Prices of raw materials and intermediate goods continued to drag down import prices as they did in March, dropping 33.8 per cent and 10.3 per cent, respectively.

On a monthly basis, import prices slipped for a second straight month in April by 2.4 per cent due to a stronger won, which gained more than 3 per cent against the dollar last month.

Export prices, also in won terms, fell 6.1 per cent in April from a year earlier, slightly less than a 6.8 per cent decline in March.

April export prices fell 2.0 per cent versus March, snapping two months of rises.

REUTERS