Producer prices grew at the steepest pace in 17 months in January due to a rise in global oil prices. 

The Bank of Korea said Thursday that the producer price index for all commodities and services rose zero-point-six percent from a month earlier to stand at 120-point-18 in January, increasing for the third consecutive month. 

It marks the largest gain since August 2023, when the figure posted zero-point-eight percent growth.
  
The index, a key indicator of future inflation, rose one-point-seven percent from the same month last year, posting an on-year increase for the 18th consecutive month.

The prices of agricultural, forestry and fishery products rose four percent in January from a month earlier, while the prices of industrial goods gained zero-point-six percent. 

The prices of gas, water and electricity remained unchanged from a month earlier.