Producer prices saw a rebound in September, after posting a decline for the first time in nearly two years in August. 

The Bank of Korea on Friday reported that the producer price index for all commodities and services stood at 120-point-16 last month, up zero-point-two percent from a month earlier.

The index, a key barometer of future inflation, rose a month after dropping for the first time in 22 months since October 2020.

Compared to a year earlier, however, the index marked its 22nd consecutive month of growth, increasing eight percent.

The rise in the September index is attributed to hikes in gas prices, typhoons and the won's sharp depreciation against the U.S. dollar. 

The cost of utilities including electricity, gas and water gained two-point-five percent, with natural gas prices soaring six-point-three percent. 

Prices of industrial products also gained one tenth of a percent on-month due to typhoon damages and the local currency’s weakness against the greenback.

The cost of agricultural and fishery products rose by zero-point-one percent on-month in September.