Producer prices rose for the sixth consecutive month in May due to an increase in the prices of services and utility costs, while prices of agricultural products declined. 

The Bank of Korea(BOK) said on Thursday that the producer price index for all commodities and services rose zero-point-one percent from a month earlier to stand at 119-point-25 in May.

Compared to the same month last year, the index, a key indicator of future inflation, rose two-point-three percent to post year-on-year increases for the tenth consecutive month.

The rise was led by a zero-point-five percent increase in the prices of gas, water and electricity, and a zero-point-five percent rise in the prices of services. 

The prices of agricultural, forestry and fishery products, however, dropped four percent in May from a month earlier.