S.Korea's producer price turns upward in 5 months

Source: Xinhua | 2020-07-22

Price for goods and services among South Korean suppliers turned upward in five months, central bank data showed Tuesday.

The producer price index (PPI) stood at 102.52 in June, up 0.5 percent from a month earlier, according to the Bank of Korea (BOK). It was the first turnaround in five months.

Price for industrial products added 1.0 percent in June from a month earlier due to higher raw material price. It was the first rebound in six months.

Price for coal and oil products jumped 21.1 percent, with those for chemical products and primary metal products rising 1.0 percent and 0.4 percent each in the month.

Price for agricultural, livestock and fishery products declined 1.6 percent in June from a month earlier. Price for beef and pork slipped 5.9 percent and 1.2 percent respectively.

Services price rose 0.3 percent last month on higher cost for the finance and insurance services and the information, communications and broadcasting services.