Strong Jump in South Korea Import Prices

South Korea’s import prices rose sharply 18.4% year-on-year in March 2026, accelerating from a 1.6% increase in February (previously 1.2% in earlier estimates). Price changes were broad-based across key categories, with raw materials surging (40.0% vs. -3.5% in February), intermediate goods rising (13.2% vs. 4.8%), and consumer goods increasing (3.3% vs. 2.5%), while capital goods remained unchanged (1.5% vs. 1.5%), reflecting a broad-based resurgence in import-driven inflationary pressures

South Korea’s import prices rose 1.2% year-on-year in February 2026, reversing a 0.9% fall in January. Price changes varied across key categories, with intermediate goods up (4.2% vs. 3.3% in January), consumer goods rising (2.5% vs. 2.5% in January), and capital goods climbing (1.6% vs. 1.9% in January), while raw material prices continued to fall, declining (3.8% vs. -9.5%). On a monthly basis, import prices rose 1.1% in February, accelerating from a 0.7% gain in the prior month.

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.