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S. Korea's producer price rises for 2nd month in August

SEOUL
2023-09-20 10:27

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SEOUL, Sept. 20 (Xinhua) -- Price for goods and services among South Korean suppliers rose for the second straight month due to higher prices for oil products and farm goods, central bank data showed Wednesday.

The producer price index (PPI) gained 0.9 percent in August from a month earlier, after going up 0.3 percent in the previous month, according to the Bank of Korea (BOK).

Producer price for industrial products, including oil products, increased 1.1 percent last month.

Price for coal and oil products jumped 11.3 percent in August after climbing 3.7 percent in the prior month.

Price for agricultural, livestock and fishery products among suppliers advanced 7.3 percent last month due to higher farm goods price, caused by heavy rain and heat wave.

Prices for electricity, natural gas and tap water fell 0.5 percent in August, keeping a downward trend for two months in a row.

Service price among suppliers added 0.3 percent owing to higher costs for the eatery and lodging and transport services during the summer holiday season.
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