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

Written: 2021-02-19 08:28:24Updated: 2021-02-19 09:53:34

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

Photo : YONHAP News

South Korea's producer prices rose for the third consecutive month in January due to cold waves, avian influenza and rising oil prices. 

According to the Bank of Korea Friday, the producer price index for all commodities and services stood at 104-point-88 in January, up point-nine percent from a month earlier. 

From a year earlier, the index, a key barometer of future inflation, rose point-eight percent, posting an on-year gain for the second straight month. 

Prices of agricultural, livestock and fishery products jumped seven-point-nine percent on-month in January, the largest gain since August 2018. 

In particular, the prices of livestock products rose eleven-point-eight percent. 

Prices of industrial goods gained one percent on-month on the rise of oil prices, rising for the eighth consecutive month.

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