South Korea Import Prices YoY

South Korea's import prices increased by 6.6% from a year earlier in January 2025, compared to a downwardly revised 6.8% rise in the previous month. This marked the third straight month of rising import costs, largely driven by a weakening local currency. Prices climbed for consumer goods (5.8% vs. 7.3% in December), intermediate goods (7.2% vs. 7.5%), capital goods (5.3% vs. 5.7%) and raw material costs rebounded (6.5% vs. 6.1%). The South Korean won depreciated 5.2% against the dollar in December, its steepest drop in 22 months, hitting its weakest level since March 2009 amid domestic political turmoil. On a monthly basis, import prices rose 2.3%, the same pace as in the previous month, reflecting widespread upward pressure on input costs.