US import prices unexpectedly rose 0.3% in June, driven by increased costs from China and AI-related goods, despite a drop in energy prices. This challenges earlier reports of softening inflation, prompting Federal Reserve officials to suggest tighter policy.
German import prices rose by 6.8% in May year-on-year, the sharpest increase in three and a half years, driven by a 37.2% surge in energy prices. Kerosene and gasoline saw price hikes of over 50%, with the conflict involving the US, Israel, and Iran cited as a major factor.
Yonhap News Agency reports on a US-Iran MOU for a 60-day ceasefire, leading to Seoul stocks opening higher. President Lee Jae Myung to attend G7 summit. Import prices fell in May due to lower oil prices. Appeals court upholds acquittals in a 2020 N.K. border murder case.
South Korea's import prices decreased for the second consecutive month in May, dropping 0.3% due to lower oil prices, according to Bank of Korea data. The on-year import price index, however, rose significantly by 24.8%.
