Both import and export prices rise in February: central bank

South Korea's import prices increased in February from the previous month, after sliding for 11 straight months, central bank data showed Friday.

The Import Price Index (won basis) stood at 82.28 last month, up 2.8 percent from January, according to the data compiled by the Bank of Korea (BOK).

BOK officials attributed the increase largely to a rise in oil prices and weak local currency against U.S. dollar.

However, import prices plunged 17.8 percent on-year in February.

Meanwhile, the Export Price Index increased 1.5 percent last month from January due to the oil price hike, after dropping for two straight months, the data said.

But it tumbled 7.9 percent on-year last month, triggering weak corporate profitability.

Park Sae-jin swatchsjp@ajunews.com

Both import and export prices rise in February: central bank

Related