South Korea’s import price inflation cooled in July 2026, with the Import Price Index rising 18.7% year-over-year, down from a 20.9% increase in June 2026. The latest figures, updated on 13 August 2026, indicate a moderation in the pace of import cost growth compared with earlier in the summer.
The year-over-year comparison shows that while import prices remain significantly higher than a year ago, the rate of increase is losing some momentum. June’s 20.9% jump reflected price levels compared to June of the previous year, whereas July’s 18.7% figure compares prices with July a year earlier.
The easing in the annual import price growth could signal some relief ahead for domestic cost pressures, as imported inputs play a key role in South Korea’s industrial and consumer price dynamics. However, with the index still posting a double-digit gain, imported inflation remains an important factor for the broader economy.