Producer prices slipped for the second consecutive month in November.

The Bank of Korea said on Thursday that the producer price index for all commodities and services fell zero-point-four percent from a month earlier to stand at 121-point-06 in November, posting a decline for the second straight month.

Compared to the same month last year, the index, a key barometer of future inflation, saw growth of zero-point-six percent.

The prices of agricultural, forestry and fishery products slipped two-point-seven percent, while prices of industrial goods dropped zero-point-seven percent as the prices of coal and petroleum products fell five-point-five percent amid a decline in global oil prices.

Prices of utilities including electricity, gas and water as well as garbage disposal climbed zero-point-seven percent on the back of a four-point-six rise in industrial power prices resulting from a hike in November.

An official of the central bank said the hike is expected to emerge as a factor that drives up utility prices in December as well.