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▲ Source = Bank of Korea. |
[에너지경제신문 송두리 기자] As international oil prices have risen, the overall price of imported products in Korean won has risen 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 rose for three consecutive months after last year’s December (2.1%) and this year’s January (3.7%).
By index, mineral products rose 8.3% among raw materials, and coal and petroleum products rose 7.4% among intermediate goods, showing a significant increase. The rise in international oil prices was affected, and the international oil price based on Dubai oil was an average of $60.89 per barrel in February, up 11.1% from the previous year.
Primary metal products (4.3%), chemical products (3.8%), and agricultural, forestry and fishery products (2.8%) also rose.
When imported prices rise, it has a lag and affects consumer prices as well. Although different for each item, 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. The average won/dollar exchange rate rose 1.3% from 1097.49 in January to 1111.72 in February.
When comparing the inflation rate by item compared to the previous month, coal and petroleum products were the highest at 13.1%. The first metal products (5.6%), textiles and leather products (1.6%), and computers, electronic and optical devices (1.1%) also rose.
Among computers, electronic and optical devices, monitors jumped by 9.4% and TV LCDs (liquid crystal display) by 8.2%. DRAM semiconductors rose 1.4%.
The export price index rose 0.2% compared to a year ago, turning to an uptrend after 21 months.
A BOK official said, “The rebound in the export price index in 21 months is a positive sign of the global economic recovery.” It is expected to continue.”
Reporter Song Doo-ri [email protected]