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South Korea's import prices rose for a fourth consecutive month in October, up 0.5% from September, driven by a weaker won. The Bank of Korea said the won-dollar rate averaged 1,350.69, up 1.6% on the month.
Import prices were down 10.2% from a year earlier, when oil prices had surged.
A weaker won raises the won cost of dollar-priced imports, including feed grains and meals, which squeezes Korean feed buyers' margins. The data confirms that import costs remained elevated.
koreaherald.comIm Eun-byelNov 14, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
