ID :
207237
Thu, 09/15/2011 - 06:31
Auther :
Shortlink :
https://oananews.org//node/207237
The shortlink copeid
Import costs of raw materials edge down in Aug
SEOUL (Yonhap) - South Korea's import prices of key raw materials inched down in August, led by a fall in non-ferrous metal costs, a trade association said Thursday.
The Korea Importers Association (KOIMA) said its price index for imported commodities stood at 393.32 last month, down 1.09 percent, or 4.35 points, from the previous month.
The index rose in July after having fallen in May and June. The figure rose for the 10th straight month in April, marking the highest level since July 2008 when the comparable figure was 453.54.
Using 1995 as the base year, the benchmark index covers 56 key imported raw materials, including crude oil and soybeans.
The August decline is attributable mainly to a slide in prices of raw materials such as non-ferrous metals and zinc, the association said.
Demand for such raw materials remained in a slump due to growing worries over a slowdown in the global economy and the persisting debt problems in Europe, it said.
The data came amid growing concerns over accelerating inflationary pressure in Asia's fourth-largest economy.
Consumer prices jumped 5.3 percent in August from a year earlier, quickening from 4.7 percent growth in July. Core inflation, which excludes volatile oil and food prices, rose 4 percent on-year in August, the sharpest gain in 28 months, according to government data.
The Korea Importers Association (KOIMA) said its price index for imported commodities stood at 393.32 last month, down 1.09 percent, or 4.35 points, from the previous month.
The index rose in July after having fallen in May and June. The figure rose for the 10th straight month in April, marking the highest level since July 2008 when the comparable figure was 453.54.
Using 1995 as the base year, the benchmark index covers 56 key imported raw materials, including crude oil and soybeans.
The August decline is attributable mainly to a slide in prices of raw materials such as non-ferrous metals and zinc, the association said.
Demand for such raw materials remained in a slump due to growing worries over a slowdown in the global economy and the persisting debt problems in Europe, it said.
The data came amid growing concerns over accelerating inflationary pressure in Asia's fourth-largest economy.
Consumer prices jumped 5.3 percent in August from a year earlier, quickening from 4.7 percent growth in July. Core inflation, which excludes volatile oil and food prices, rose 4 percent on-year in August, the sharpest gain in 28 months, according to government data.
