S. Korea’s PPI rise 0.3% in July – BOK

South Korea’s producer price index (PPI) rose 0.3 per cent in July compared to the previous month, driven by higher costs for industrial and agricultural goods, according to data released by the Bank of Korea (BOK) on Wednesday. On annual basis, the PPI increased by 2.6 per cent.

Prices for agricultural, livestock, and fishery products surged 1.6 per cent in July, marking the first increase in four months.

Producer prices for industrial products, including oil products, rose 0.3 per cent on a monthly basis, accelerating from a 0.1 per cent increase in June.

Prices for coal and oil products jumped 2.8 per cent, while those for chemical and primary metal products declined.

The prices of electricity, natural gas, and tap water decreased by 0.4 per cent in July, continuing a downward trend for the second consecutive month.

Service prices increased by 0.2 per cent due to higher costs in the eatery and lodging, finance and insurance, and real estate services sectors.

Attribution: Bank of Korea report

Subediting: Y.Yasser