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S. Korea's Producer Prices Rise for Third Consecutive Month in April

Written: 2019-05-21 08:48:02Updated: 2019-05-21 10:06:29

S. Korea's Producer Prices Rise for Third Consecutive Month in April

Photo : YONHAP News

South Korea's producer prices rose in April for the third straight month due to rising prices of crude oil and livestock products.

According to the Bank of Korea on Tuesday, the producer price index, a barometer of future consumer inflation, came to 103-point-67 last month, up point-three percent from a month earlier.

The index rose for three straight months since February after falling for four months since October of last year.

From a year earlier, the index marked a point-six percent rise and the 30th consecutive month of increase. 

The central bank said oil prices pushed the index upward. The average price of Dubai crude, South Korea's benchmark, rose six-point-seven percent on month to 72-point-13 dollars last month.

Producer prices of farm products gained one-point-three percent on-month due to a sharp increase in demand for domestic pork following the spread of African swine fever in China.

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