South Korea Import Prices Drop in January

South Korea’s import prices fell 1.2% year-on-year in January 2026, reversing a 0.3% rise in December and ending the recent four-month run of gains. Price changes were softer across key categories, with intermediate goods up (2.7% vs. 3.7% in December), consumer goods rising (2.5% vs. 4.1%), and capital goods climbing (2.1% vs. 3.1%), while raw material prices continued to fall, declining (9.7% vs. -6.8%). On a monthly basis, import prices rose 0.4% in January, easing from a 0.9% gain in the prior month.

South Korea’s import prices rose 0.3% year-on-year in December 2025, slowing from a 1.9% increase in November and marking the third consecutive month of gains. Price increases were softer across key categories, with intermediate goods up 3.5% versus 4.7% in November, consumer goods rising 4% compared with 5.5%, and capital goods climbing 3.1% after a 4.5% gain the previous month. In contrast, raw material prices continued to fall, declining 7% following a 4.7% drop in November. On a monthly basis, import prices rose 0.7%, easing from a 2.4% gain in the prior month.

South Korea’s import prices rose 2.2% year-on-year in November 2025, following a 0.5% increase in October and the sharpest increase since March. Prices for intermediate goods increased 5.4%, following a 3.2% rise in October, while consumer goods prices jumped 5.4% from 5.1%, and capital goods rose 4.5%, up from 3.9%. In contrast, raw material prices continued to decline, falling 5.0%, a smaller drop than October’s 6.9% decrease. On a monthly basis, import prices increased 2.6%, well above the 1.9% gain recorded in the previous month.