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South Korea’s import prices surged 18.4% year-on-year in March 2026, a sharp acceleration from the revised 1.6% increase in February (up from an earlier estimate of 1.2%). The rise was broad-based across major categories: prices of raw materials jumped 40.0% (versus a 3.5% decline in February), intermediate goods advanced 13.2% (vs. 4.8%), and consumer goods increased 3.3% (vs. 2.5%), while capital goods held steady at 1.5%. These movements point to a widespread rebound in import-driven inflationary pressures.
