Export prices also 3.1%↑… Rebound in 21 months compared to the same month last year
(Seoul = Yonhap News) Reporter Shin Gyeong-gyeong = As international oil prices jump, the overall price level of imported products in Korean won has increased for three consecutive months.
According to the statistics of the import and export price index released by the Bank of Korea on the 16th, the import price index as of February (preliminary value in Korean won, 2015 level 100) was 105.53, up 3.8% from the previous month (101.64). It has risen for the third month in December last year (2.1%) and January this year (3.7%).
Mineral products (8.3%) among raw materials and coal and petroleum products (7.4%) among intermediate goods rose significantly. This is because the international oil price based on Dubai oil jumped 11.1% per month to an average of $60.89 per barrel in February.
Primary metal products (4.3%), chemical products (3.8%), and agricultural, forestry and fishery products (2.8%) also rose.
[한국은행 제공·재판매 및 DB 금지]
Increasing import prices affects consumer prices with a lag, which varies from item to item, but in general, petrochemical products and agricultural and fishery products are reflected in consumer prices relatively quickly.
However, compared to the same month last year, the import price index for February is still 0.8% lower.
The February export price index (in Korean won) was 97.83, up 3.1% from January (94.89). The BOK explained that it was also affected by strong international oil prices and a rise in the won/dollar exchange rate.
Looking at the rate of inflation by item (compared to the previous month), coal and petroleum products were the highest at 13.1%, and primary metal products (5.6%), textiles and leather products (1.6%), and computers, electronics, and optical devices (1.1%). Rose.
As a sub-category within computer, electronic, and optical devices, LCD (liquid crystal display) for monitors and TVs jumped 9.4% and 8.2%, respectively. DRAM semiconductors also rose 1.4%.
Compared to the same period last year, the export price index rose 0.2%, turning upward after 21 months.
“The rebound in 21 months of the export price index is a positive sign of a global economic recovery.” It is expected that the same rise will continue.”
[한국은행 제공·재판매 및 DB 금지]
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2021/03/16 06:00 sent