South Korea’s import price inflation quickened sharply in May 2026, underscoring rising cost pressures for Asia’s fourth-largest economy. The Import Price Index climbed 24.8% year-over-year in May, up from a 20.2% annual increase in April, according to data updated on 15 June 2026.
The figures show that imported goods and inputs are becoming increasingly expensive compared with a year earlier, with May’s reading reflecting a stronger price surge than the previous month’s year-over-year change. The April 2026 indicator, which compared prices to April a year earlier, had already signaled robust import cost growth at 20.2%.
The acceleration in May’s Import Price Index suggests that external cost pressures are intensifying, which could feed through to domestic production costs and consumer prices in the months ahead. The data compare each month’s index with the same month a year earlier, highlighting a clear upward trend in import-related inflation through the spring of 2026.
