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Producer prices drop in June

All News 06:00 July 19, 2016

SEOUL, July 19 (Yonhap) -- South Korea's producer prices dropped slightly from a year earlier in June on a large cut in prices of coal and petroleum products, central bank data showed Tuesday.

The producer price index for June came to 99.01, down 2.7 percent from the same month last year, according to preliminary data from the Bank of Korea (BOK).

Producer prices serve as an indicator of future consumer inflation.

The June index marked a slight increase from a revised 98.79 in the previous month.

Prices of manufactured goods gained 0.5 percent on-month in June while prices of agricultural and fisheries goods suffered a 1.7-percent on-month decline.

Utility prices, including electricity and water, remained unchanged from the previous month, according to the BOK.


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