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SEOUL, Jan 13 (Reuters) – South Korea’s import costs rose at their slowest tempo in 21 months in December, because the native gained forex strengthened and oil costs fell, implying weakening stress on shopper inflation.
The costs of the nation’s imports stood 9.1% greater in December than a yr in the past, when it comes to the gained forex, in contrast with 14.0% in November and a close to 14-year excessive of 36.5% in Could, central financial institution information confirmed on Friday. It marked the slowest annual rise since March 2021.
These of exports additionally rose at a slower price of three.1%, down from 8.3% within the earlier month, and marked the slowest since February 2021, additionally affected by a stronger gained.
In December, the greenback/gained alternate charges have been on common 5.0% decrease than in November, whereas Dubai oil costs have been 10.5% decrease, in accordance with the Financial institution of Korea.
Reporting by Jihoon Lee; Modifying by Toby Chopra
Our Requirements: The Thomson Reuters Belief Ideas.
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