South Korea Import Prices Fall for Fifth Month

South Korea’s import prices fell 6.2% year-on-year in June 2025, deepening from a 5.1% decline in May, as falling global oil prices and a stronger Korean won continued to weigh on costs.

Raw material prices dropped sharply by 13.2%, following a 13.9% decline the previous month.

Intermediate goods also saw a steeper fall of 4.9%, compared to a 2.7% decrease in May.

Meanwhile, price growth for consumer goods slowed to 0.9% from 2.5%, and capital goods eased to 1.2% from 2.5%.

On a monthly basis, import prices fell 0.6% in June, marking the fifth straight monthly decline after a 3.7% drop in May.

The continued slide reflects broader global trends, particularly in energy markets, and underscores persistent deflationary pressure in import costs.