Korea's export and import prices go up in September

Newly-released figures from South Korea's central bank show that prices for both exports and imports went up last month.
Kim Hyesung has the details.
Korea's export and import prices both rose in September on rising oil prices.
According to the Bank of Korea Tuesday, import prices in September rose sharply by one-point-five percent on-month, near ten percent on-year...recording their highest level since November 2014.
Korea's benchmark, Dubai crude, soared six-point-five percent on-month to an average of 77 U.S. dollars a barrel last month.
Imports of consumer goods and intermediary goods went up slightly, and raw material prices jumped four-point-five percent on-month.

"Global oil supply from OPEC and U.S. shale gas wasn't enough to meet demand, which has increased on recovering global growth led by the U.S. With U.S. sanctions on Iran set to come in this November, oil prices could go up further this year."

Export prices also went up zero-point-three percent on-month.
While the local currency remained steady at around 1-thousand-121 Korean won against the greenback... rising coal and petroleum goods prices led the gain in industrial goods' prices, which went up zero-point-three percent.
Prices of agricultural and marine products rose 1-point-two percent on-month on higher prices of frozen marine exports.
Export and import prices affect future consumer prices, so this could mean higher inflation in the months to come.
Kim Hyesung, Arirang News.