Import prices fall for 2nd month in July on oil prices decline, stronger won

Import prices fell for the second consecutive month in July due to a stronger Korean won and a decrease in oil prices amid the protracted Middle East uncertainties, central bank data showed Friday. The import price index fell 1 percent on-month following a 4.2 percent on-month drop in June, according to the preliminary data from the Bank of Korea. On an on-year basis, the index climbed 18.7 percent in July. The BOK said the on-month decline came as the Korean won strengthened against the US doll

By The Korea Herald