S.Korea's producer price keeps rising for 9 months in July

Source: Xinhua| 2021-08-20 14:43:03|Editor: huaxia

SEOUL, Aug. 20 (Xinhua) -- Price for goods and services among South Korean suppliers kept rising for nine straight months through July due to higher prices for oil products and farm goods, central bank data showed Friday.

The producer price index (PPI) came in at 110.02 in July, up 0.7 percent from a month earlier, according to the Bank of Korea (BOK). It continued to increase for the ninth consecutive month since November last year.

The producer price for agricultural, livestock and fishery products gained 1.5 percent in July on a yearly basis owing to the summer heatwave that raised the price for farm goods.

The price for watermelon and spinach surged 40.1 percent and 76.0 percent each, with the chicken prices soaring 18.4 percent.

Industrial products price among producers added 1.0 percent last month on the back of expensive crude oil.

The price for diesel and gasoline advanced 6.3 percent and 8.2 percent respectively, and those for dynamic random access memory (DRAM) chips and LCD panels for laptops went up 8.7 percent and 6.5 percent each.

Services price rose 0.4 percent in July from a year ago. Those for the transport and the eatery and lodging services increased 1.0 percent and 0.6 percent respectively. Enditem

KEY WORDS: South Korea,PPI