Producer prices fell slightly in October as the prices of farm products slipped by more than ten percent. 

The Bank of Korea said Wednesday that the producer price index for all commodities and services dropped zero-point-one percent in October from a month earlier to 119-point-02.

The index, a key indicator of future inflation, fell for the third consecutive month in October.

From a year earlier, the index rose one percent last month, marking the 15th consecutive month that it increased.

The slight fall in October is attributed to an eight-point-seven percent fall in producer prices for agricultural, forestry and fishery products, with the prices of agricultural products plunging ten-point-five percent.

The prices of industrial goods, however, increased zero-point-two percent due to a rise in oil prices, while gas, water and electricity prices gained zero-point-eight percent last month.