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S. Korea's Producer Prices Grow for Fourth Month in September

Write: 2020-10-21 08:28:13Update: 2020-10-21 09:31:54

S. Korea's Producer Prices Grow for Fourth Month in September

Photo : YONHAP News

South Korea's producer prices rose for the fourth straight month in September due mainly to the rising prices of agricultural products. 

According to the Bank of Korea on Wednesday, the producer price index for all commodities came to 103-point-35 last month, up point-one percent from a month earlier. 

The index, a key barometer of future inflation, marks the fourth straight month of on-month increase after remaining flat in May. 

Compared with a year earlier, however, producer prices fell point-four percent in September, posting an annual decline for seven straight months.

Producer prices of agricultural, livestock and fishery products jumped four-point-nine percent on-month in September due to the impacts of typhoons and the rainy season. 

The producer price index for these sectors came to 139-point-66 to post the highest since the nation started compiling related data in 1965.

Prices of industrial goods fell point-one percent on-month, while the index for service sector prices dropped point-two percent on-month.

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