South Korea import prices rise 18.4 percent in March
South Korea's import prices rose 18.4 percent in March as global oil costs climbed. The annual increase is the sharpest recorded in more than three years.
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Import prices in South Korea climbed at their fastest rate in more than three years this March, driven primarily by a dramatic spike in global energy costs linked to ongoing conflicts in the Middle East. According to recent data from the Bank of Korea, the import price index surged 18.4% compared to the previous year, marking the most significant annual jump since October 2022.
