South Korea’s producer prices have risen for the seventh consecutive month on the back of a surge in international prices of raw materials such as oil, iron ore and coal.
The Bank of Korea announced on Monday that the nation’s producer price index stood at 102-point-62 in February, up zero-point-three percent from January.
The index rose for the seventh consecutive month to the highest in 26 months since December 2014.
The on-year growth in producer prices was also the steepest in more than five years at four-point-two percent.
Producer prices are a leading indicator of inflation as they are reflected in consumer prices over time.