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

SEOUL
2024-02-21 10:36

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SEOUL, Feb. 21 (Xinhua) -- Price for goods and service among South Korean suppliers rose for the second successive month due to higher price for farm goods and natural gas, central bank data showed Wednesday.

The producer price index (PPI) advanced 0.5 percent in January from a month earlier after going up 0.1 percent in the previous month, according to the Bank of Korea (BOK).

Price for agricultural, livestock and fishery products among suppliers increased 3.8 percent in January on a monthly basis after jumping 4.9 percent in the prior month.

Producer price for electricity, natural gas and tap water climbed 1.0 percent in January from a month earlier owing to expensive natural gas for industrial use, the price of which jumped 10.0 percent.

Producer price for industrial products, including oil products, added 0.1 percent last month, logging the first rebound in three months on the back of higher price for oil and chemical products.

Price for coal and oil products gained 0.5 percent in January, marking the first turnaround in four months.

Service price picked up 0.6 percent last month on higher cost for the information, communication and broadcasting services.
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