S.Korea's producer price rises for 2 months on expensive farm goods
Source: Xinhua | 2020-08-22
Price for goods and services among South Korean suppliers rose for two straight months due to expensive farm goods caused by heavy rains, central bank data showed Friday.
The producer price index (PPI) stood at 102.68 in July, up 0.2 percent from a month earlier, according to the Bank of Korea (BOK).
It continued to gain for the second consecutive month as heavy rains raised the price for farm goods.
Price for agricultural, livestock and fishery products advanced 3.7 percent in July from a month ago. Fishery product price slipped 0.1 percent, but prices for agricultural and livestock products gained 6.0 percent and 3.3 percent each.
Price for lettuce, napa cabbage and apple climbed in double figures, and the price for beef, pork and chicken rose more than 3 percent.
Price for industrial products added 0.4 percent on higher global crude oil price. Oil product price was up 4.8 percent, and the primary metal price rose 0.4 percent.
Price for electricity, tap water and natural gas declined 4.1 percent in the moth on lower import price for liquified natural gas (LNG) and the government's cut in electricity charges during summer.
Services price increased 0.3 percent on higher cost for the transport and the eatery and lodging services, stemming from the summer vacation season.
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