Producer prices rose for the third consecutive month in February due to an increase in the prices of agricultural products. 

The Bank of Korea said on Friday that the producer price index for all commodities and services rose zero-point-three percent from a month earlier to stand at 122-point-21 in February, rising for the third consecutive month.

Compared to the same month last year, the index, a key indicator of future inflation, saw growth of one-point-five percent as it showed year-on-year increases for the seventh consecutive month.

The prices of agricultural, fishery and petroleum products pushed up the index from last month, with the prices of agricultural and fishery products gaining two-point-six percent and two-point-one percent, respectively, and petroleum products rising three-point-three percent. Livestock prices, however, dropped two-point-four percent. 

Prices of utilities including electricity, gas and water as well as waste management dropped zero-point-nine percent month-on-month due to a nine-point-two percent fall in industrial gas prices.

Service prices gained zero-point-two percent from a month earlier.