South Korea Import Prices YoY

South Korea's import prices increased by 3% year-on-year in November 2024, reversing a 2.5% decline in October and ending two consecutive months of decreases. The rise was primarily driven by higher costs for consumer goods (5.1% vs. 1.6% in October), intermediate goods (5.4% vs. 0.5%), and capital goods (4.1% vs. 0.7%). However, raw material prices continued to decline, albeit at a slower pace (-1.6% vs. -9.1% in October). On a monthly basis, import prices rose 1.1%, following a 2.1% increase in the prior month, reflecting broad-based upward pressure on input costs.