South Korea’s Import Price Index fell 1.2% year-over-year in January 2026, marking a sharp turnaround from the 0.5% annual increase recorded in December 2025. The latest data, updated on 12 February 2026, highlight a renewed easing in imported cost pressures at the start of the year.
The figures are based on a year-over-year comparison, measuring January 2026 prices against those of January 2025, while the previous reading reflected the change in December 2025 relative to December 2024. The move from positive to negative territory suggests that external price dynamics, including global commodity and goods costs, have shifted in a way that could temper imported inflation for South Korea’s economy.
For policymakers and markets, the downturn in the Import Price Index will be closely watched as a potential signal of softer input costs for manufacturers and a possible easing in broader inflationary pressures, depending on how persistent the decline proves to be in the coming months.
