FX.co ★ South Korea August Import Prices Decline, Slower Than July

In August 2025, South Korea saw a 2.2% decrease in import prices compared to the previous year, a decrease from the sharper 5.9% drop witnessed in July. This marked the fifth consecutive month of declining import costs, primarily driven by subdued global oil prices and a stronger Korean won. The cost of raw materials declined by 6.6%, an improvement from the 12.7% decrease seen the prior month. Prices for intermediate goods fell by 1.8%, a slower rate compared to July's 4.6% drop. The growth in consumer goods prices eased to 2.6% from 3.1%, while capital goods experienced a rise of 2.6% up from July's 1.2%. Month-over-month, import prices saw a 0.3% increase, which was a slowdown from the 0.8% rise reported in July.