Korea`s October import prices fall for 2nd month

SEOUL, Nov. 15 (Yonhap) -- South Korea's import prices dropped for a second
consecutive month in October mainly due to a stronger won, the central bank said
Sunday.
In local currency terms, the prices for imported goods declined 1.1 percent last
month from the previous month, marking the second straight month of falls,
according to the Bank of Korea (BOK).
The prices fell 1.9 percent in September, declining for the first time in four
months.
Compared with a year earlier, the prices were down 15.3 percent in October, the
BOK noted.
The decline in import prices came on the back of a rise in the local currency's
value versus the greenback, offsetting recent upticks in costs of raw materials
including crude oil, the central bank said.
Import prices for raw materials advanced 2.2 percent last month from September,
according to the bank.
The Korean won averaged 1,174.8 won against the U.S. dollar in October, rising
3.4 percent from the previous month.
Meanwhile, the country's won-based export prices decreased 3 percent
month-on-month in October following a 1.8 percent drop the previous month, the
bank said.
pbr@yna.co.kr
(END)