(MENAFN- Qatar News Agency) South Korea's import prices fell for the 17th straight month in January as prices of raw materials including oil declined, offsetting upward pressure caused by the weak Korean won, the South Korean central bank said Wednesday. In local currency terms, the country's import prices declined 3 percent in January from a year earlier, compared with a 3.5 percent on-year fall in December, according to the Bank of Korea (BOK). It marked the 17th consecutive month of on-year declines in import prices from September 2012 when such prices dipped 2.2 percent on-year, the South Korean News Agency (Yonhap) reported. Prices of Dubai crude, South Korea's benchmark, dropped 3.7 percent in January from a year earlier, according to the central bank. The import prices slipped 0.3 percent in January from the previous month, a turnaround from a 0.4 percent on-month gain the previous month. In local currency terms, South Korea's export prices fell 1.9 percent on-year last month after dropping 2.1 percent in December. Export prices rose 0.2 percent in January from the previous month, compared with a 0.3 percent on-month fall in December, the central bank sai
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