S. Korea’s producer price rises for 3rd month in January

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SEOUL, Feb. 19 (Xinhua) — Price for goods and services among South Korean suppliers rose for the third consecutive month in January due to higher price for farm goods and oil products, central bank data showed Friday.

The producer price index (PPI) stood at 104.88 in January, up 0.9 percent from a month ago, according to the Bank of Korea (BOK). The index gained 0.1 percent in November and 0.8 percent in December each last year.

The continued increase was attributed to expensive farm goods and oil products.

Price for agricultural, livestock and fishery products soared 7.9 percent in January from a month earlier, marking the fastest in over two years since August 2018.

Producer price for livestock and agricultural products advanced 11.8 percent and 7.8 percent respectively.

Price for industrial products added 1.0 percent last month. Diesel and gasoline prices jumped 9.7 percent and 7.5 percent each.

Services price among suppliers increased 0.5 percent in January from a month earlier. Enditem

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