Korea's Import Prices Fell at Fastest Pace

(MENAFN- Qatar News Agency) Oul may 14 (qna) - south korea's import prices declined at the fastest clip in six months in april as the local currency strengthened against the u.s. dollar the central bank said wednesday.



in local currency terms the country's import prices fell 7 percent last month from a year ago marking the steepest on-year decline since october last year when they slumped 7.3 percent according to the bank of korea (bok).

the april data also marked the 20th straight month of on-year declines in import prices since september 2012 when they dipped 2.2 percent from the previous year.



the korean won appreciated 6.9 percent on average in april compared with a year earlier.

on a monthly basis import prices slumped 2.5 percent in april from a month earlier accelerating from a 0.5 percent on-month fall in march.

export prices meanwhile fell 2.5 percent in april from the previous month. (qna)