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South Korea's Export, Import Prices Jump in June

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South Korea's export prices surged 48.9% year over year in June, according to preliminary data from the Bank of Korea on Wednesday.

The pace of growth accelerated from the revised 47.1% increase recorded in the previous month. It missed the Trading Economics forecast for a 52.2% jump.

On a month-over-month basis, export prices were flat in June following the 0.4% expansion in May.

Meanwhile, import prices rose 20.6% from a year earlier, missing the Trading Economics forecast of 23%.

The reading compared with the revised 25.4% expansion in the prior month.

Import prices fell 4.4% month over month in June, reversing the 0.2% increase the prior month.

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