S. Korea's producer price rebounds in December
Jan 23, 2024
Seoul [South Korea], January 23: Price for goods and service among South Korean suppliers rebounded in three months due to higher price for farm goods and natural gas, central bank data showed Tuesday.
The producer price index (PPI) rose 0.1 percent in December last year compared to the previous month after sliding 0.1 percent in October and 0.4 percent in November, according to the Bank of Korea (BOK).
Price for agricultural, livestock and fishery products among suppliers advanced 4.9 percent last month, marking the first turnaround in three months.
Producer price for electricity, natural gas and tap water climbed 1.0 percent in December from a month ago, affected by expensive natural gas for industrial use, the price of which jumped 6.7 percent.
Producer price for industrial products, including oil products, retreated 0.4 percent in December on a monthly basis on the back of cheaper oil and chemical products.
Price for coal and oil products dipped 3.7 percent, keeping a downward trend for the third straight month.
Service price added 0.2 percent last month on higher costs for the lodging and eatery and the finance and insurance services.
Source: Xinhua
