Producer prices posted growth in July after declining for three consecutive months.

The Bank of Korea(BOK) said on Thursday that the producer price index(PPI) for all commodities and services stood at 120-point-14 in July, up zero-point-three percent from a month earlier.

The index, a key barometer of future inflation, had seen continuous decline from April after previously posting growth in the first three months of the year.

Prices of agricultural, forestry and fishery products mainly contributed to the rise in the PPI after climbing four-point-seven percent on-month in July.

Prices of industrial goods jumped zero-point-one percent thanks to a rise in prices of coal and petroleum products on the back of climbing global oil prices.

Service industry prices gained zero-point-three percent, with transportation prices rising zero-point-nine percent and prices in the food service and lodging industries increasing zero-point-five percent.

A BOK official assessed that the PPI posted growth after fares of inter-city buses, taxis and international air passengers all increased and demand for dining out and accommodations surged with the summer vacation period.