South Korea April import prices rise most in 3 months on oil jump

SEOUL: South Korea's annual import prices grew at their fastest pace in three months in April on the back of rising global oil prices, central bank data showed on Wednesday.

Import prices in won terms rose 9.3 percent in April year-on-year after increasing 6.8 percent in March, the Bank of Korea said in a statement.

The BOK attributed the sharp jump to an increase in global oil prices and a 34.0 percent jump in import prices of raw materials.

Export prices, also in won terms, increased 8.7 percent on a yearly basis, after a 5.0 percent rise in March.