[Monitor] South Korea’s export prices inch up

South Korea’s export prices increased slightly last month from August largely due to rising prices of oil and raw materials, the Bank of Korea said Wednesday.

Based on local currency, the prices rose 0.9 percent in September from the previous month, driven by a rise in oil prices that raised petrochemical product prices.

Export prices increased 10.9 percent on-year in September, marking the highest since March 2009.

Meanwhile, import prices also rose 1.7 percent in September from a month earlier due to the same reason.

The price of Dubai crude stood at an average of $53.66 in September, up from $50.22 in August.