Import prices in May rises on higher global oil prices

South Korea’s import prices increased at the fastest click in almost a year-and-a-half in May on the back of rising global oil prices.
The Bank of Korea says its import price index hit 87-point-zero-nine last month, up two-point-seven percent on-month.
The index has been rising for five straight months since January, and the monthly gain in May was the largest since December 2016, when it recorded over four percent.
On-year, it was up eight-point-one-percent.
The price of Dubai crude contributed to the gain.
It soared nine percent on-month to more than 74 U.S. dollars a barrel last month.
The export price index rose by around one-percent on-month recording 84-point-six-three in May.

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