Producer prices fell for the second straight month in May, showing the sharpest drop in 18 months, driven by declines in the prices of agricultural and petroleum products. 

The Bank of Korea said Friday that the producer price index for all commodities and services posted 119-point-66 in May, down zero-point-four percent from the previous month.

From a year prior, the index rose zero-point-three percent. 

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

Prices of industrial goods declined zero-point-six percent on-month in May, with the prices of coal and petroleum products slipping four-point-two percent. 

Gas, water and electricity prices also dropped zero-point-six percent.