Macro EconomyMedium•12 November 2026•
1 min read
South Korea Import Prices Drop 1.8% in October on Stronger Won and Lower Oil
Key Facts
1South Korea's import price index fell 1.8 percent month-on-month in October.
2The Bank of Korea attributed the decline to a 1.6% strengthening of the won and a 2.6% drop in Dubai crude prices.
South Korea's import price index fell 1.8 percent month-on-month in October 2026. The Korea Times reported that the decline reversed a previous spike, driven by currency appreciation and lower global energy costs which reduced the expense of raw materials and intermediate goods.
The Bank of Korea attributed the movement to a 1.6% strengthening of the won against the U.S. dollar and a 2.6% drop in Dubai crude prices during the period. This cooling of import costs follows a reported unemployment rate of 2.5% in South Korea on November 10, 2026, as the central bank monitors inflationary pressures.