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S. Korea's producer price rebounds in 3 months in January

SEOUL
2023-02-23 11:41

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SEOUL, Feb. 23 (Xinhua) -- Price for goods and services among South Korean suppliers rebounded in three months in January due to a surge in public utility rates, central bank data showed Thursday.

The producer price index increased 0.4 percent in January from a month earlier, after retreating 0.3 percent in November and 0.4 percent in December each, according to the Bank of Korea.

It was attributed to soaring public utility rates, such as electricity and natural gas charges.

Producer price for electricity, natural gas and tap water jumped 4.0 percent in January from a month earlier.

Price for agricultural, livestock and fishery products gained 0.6 percent on expensive farm goods in winter, but price for industrial products fell 0.1 percent on cheaper oil products.

Services price among suppliers advanced 0.5 percent in January on a monthly basis due to a higher price for eatery and lodging services.
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