South Korea's producer prices fell point-eight percent from a month earlier in March due to tumbling international oil prices.

According to data by the Bank of Korea on Wednesday, the country's producer price index, a key barometer of future inflation, came to 102-point-89 last month, down point-eight percent from the previous month.

From a year earlier, the figure marked a decrease of half a percent. 

The producer price index for industrial goods dropped one-point-four percent on-month in March, with prices of coal and petrochemical products plunging about 20 percent.

The drop is mainly attributed to falling oil prices amid the COVID-19 pandemic. Prices of the country's benchmark Dubai crude marked 33 dollars and 71 cents per barrel on average in March, down more than 20 dollars from the previous month. 

The index for agricultural goods rose one-point-two percent on-month, while the figure for services slipped point-three percent.