South Korea’s import prices rose 13.5% year on year in October 2026, easing from a 17.8% increase in September. The overall gain was driven primarily by raw materials, which surged 36.2%, while prices of intermediate goods increased 9.2%. In contrast, capital goods prices declined 4.2%, and consumer goods prices fell 3.3%.
By sector, mining product prices jumped 40.7%, propelled by a 47.6% surge in coal, crude petroleum, and natural gas prices. This reflected elevated international crude oil and gas prices stemming from supply disruptions related to the US–Iran war. Prices of manufactured goods increased 4.8%, largely due to a 52.5% rise in coal and petroleum products. Meanwhile, prices of agricultural, forestry, and marine products fell 1.9%, weighed down by an 8% decrease in livestock product prices.
The Net Barter Terms of Trade Index rose 21.3%, while the Import Price Index edged down 1.8% compared with the previous month.
