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S. Korean producer prices edge up in Jan.

Economy 09:36 February 20, 2020

SEOUL, Feb. 20 (Yonhap) -- South Korea's producer prices inched up in January from the prior month due to the increased cost of farm and fishery goods, central bank data showed Thursday.

The producer price index for all commodities and services stood at 103.93 last month, up 0.2 percent from December, according to preliminary data from the Bank of Korea (BOK).

From the same month a year earlier, the country's producer prices climbed 1 percent. Producer prices serve as a key barometer of future inflation.

The BOK said prices of some vegetables and fishery products jumped ahead of the Lunar New Year holiday, pushing up the price index. Lunar New Year's Day fell on Jan. 25 this year.

The subindex for agricultural, livestock and fishery goods jumped 3.4 percent in January from the previous month, while that for industrial products fell 0.1 percent due to weaker international oil prices.

The price index for the services industry expanded 0.3 percent over the cited period.

S. Korean producer prices edge up in Jan. - 1


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