Producer prices rebounded in July, driven by an increase in agricultural product prices. 

The Bank of Korea(BOK) reported on Wednesday that the producer price index for all commodities and services rose by zero-point-three percent in July from a month earlier to stand at 119-point-56.

This index, a key indicator of future inflation, rebounded after a decline in June, which was the first drop in seven months.

Compared to the same month last year, the index rose two-point-six percent to post year-on-year increases for the 12th consecutive month.

The rise was led by a one-point-six percent on-month increase in the prices of agricultural, forestry and fishery products, and a zero-point-three percent rise in the prices of industrial goods. 

Service prices also gained zero-point-two percent on-month in July, while prices for gas, water and electricity declined zero-point-four percent.