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South Korea Import Prices Fall 3% in April on Lower Oil Costs
The import price index dropped 2.3 percent on-month in April after surging 18 percent in March, driven by a sharp decline in oil prices following a U.S.-Iran ceasefire. Export prices rose 7.1 percent on-month and 40.8 percent year-on-year. The Bank of Korea released the preliminary data on May 15.
May 14, 5:00 PM·1m read1 source
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Import prices in South Korea fell for the first time in 10 months in April 2026 on a decrease in oil prices amid the Middle East conflict, Yonhap reported. 3 percent on-month last month, shifting from an 18 percent gain in March, according to preliminary data from the Bank of Korea released on May 15, 2026. 9 percent to end a five-month losing streak.
2 percent in April 2026. 7 per barrel in April after the United States and Iran agreed to a ceasefire on April 7, 2026. South Korea relies heavily on energy imports.
1 percent on-month. Import prices are a key driver of inflation as they affect production costs and consumer prices throughout the supply chain.
8 percent. Containers stood stacked at a port in Pyeongtaek, south of Seoul, on May 8, 2026, days before the data release.
