South Korea's producer prices for May remained similar to April despite the rise of global oil prices while prices of agricultural goods, electricity, gas and water supply dropped.
 
According to the Bank of Korea on Monday, the producer price index(PPI) for May stood at 98-point-68, similar to the 98-point-67 posted the previous month.
 
Dubai crude oil prices rose 13-and-a-half percent from 38-point-99 dollars per barrel in April to 44-point-26 dollars in May, but prices of agricultural goods slipped nine-point-four percent. Compared to April, prices of agriculture, forestry and fishery products fell four-point-two percent.
 
Producer prices witnessed a continuous decline since last July due to the drop in global oil prices. In April, however, producer prices jumped three-tenths of a percent.
 
The PPI is a barometer of future consumer inflation as it indicates wholesale prices of producers, which are reflected in consumer prices one or two months later.