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S.Korea's producer prices rise 0.9 pct in January

SEOUL
2022-02-24 13:53

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SEOUL, Feb. 24 (Xinhua) -- The price for goods and services among South Korean suppliers kept an upward trend amid more expensive crude oil, central bank data showed Thursday.

The producer price index came in at 114.24 in January, up 0.9 percent from the previous month, according to the Bank of Korea.

The producer prices rebounded in January after making no change in December last year. The index kept rising for the 13th consecutive month through November.

The upward trend was attributed to the higher price for global crude oil.

Prices for industrial products among suppliers gained 0.9 percent in January from a month earlier. Prices for coal and oil products advanced 5.2 percent, and chemical product prices added 1.0 percent.

Prices for electricity, natural gas and tap water increased 2.4 percent last month, marking the fastest growth in over 12 years since July 2009.

The producer price for agricultural, livestock and fishery products went up 1.7 percent in the month, and the services price rose 0.6 percent on higher cost for eatery and lodging services.
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