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Producer Prices Up 0.3% in August on Surging Prices of Farm Products

Written: 2017-09-19 09:10:33Updated: 2017-09-19 09:37:03

Producer Prices Up 0.3% in August on Surging Prices of Farm Products

The country's producer prices posted growth for a second consecutive month in August due to surging prices of farm products.
 
Agricultural prices jumped 14-point-two percent last month from July, the largest gain since September 2010.
 
According to the Bank of Korea on Tuesday, the country's producer price index, a barometer of future consumer inflation, marked 102-point-20 in August, up point-three percent from a month earlier. 
 
Green pepper prices almost tripled, while the price of tomatoes and Chinese cabbages jumped 102 percent and 55 percent, respectively.
 
A BOK official attributed the surge in agricultural prices to weather, saying that heat waves and heavy rains in August led to a decrease in output.

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