Producer prices fell for the first time in seven months in June due to a fall in the prices of agricultural products. 

The Bank of Korea(BOK) said on Tuesday that the producer price index for all commodities and services dropped zero-point-one percent in June from a month earlier to stand at 119-point-19.

It marks the first decline in seven months after rising for six consecutive months. 

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

The fall was led by a two-point-eight percent drop in the prices of agricultural, forestry and fishery products, with the prices of agricultural products slipping six-point-six percent. 

The prices of gas, water and electricity also declined zero-point-one percent last month, while the prices of services gained zero-point-one percent.