Producer prices rose for the third consecutive month in September due to rising global oil prices.

The Bank of Korea said on Tuesday that the producer price index for all commodities and services rose zero-point-four percent from a month earlier to stand at 121-point-67 in September, climbing on-year for the second straight month by one-point-three percent.

The index, a key barometer of future inflation, climbed for the third consecutive month, although the growth slowed from August, when it grew at the steepest pace in 16 months with a zero-point-nine percent gain.

Prices of agricultural, forestry and fishery products rose zero-point-two percent, while prices of industrial goods gained zero-point-eight percent as the prices of coal and petroleum products increased six-point-six percent on the back of climbing oil prices worldwide.

Service industry prices dropped zero-point-one percent, with transportation prices falling zero-point-three percent and prices in the foodservice and lodging industries dropping zero-point-four percent.