S.Korea’s producer price keeps rising in October

SEOUL, Nov. 24– Price for goods and services among South Korean suppliers kept rising for the second straight month in October due to a hike in electricity and natural gas charges, central bank data showed Thursday. The producer price index advanced 0.5 percent in October from a month earlier, after climbing 0.1 percent in September, according to the Bank of Korea.

SEOUL, Nov. 24 (Xinhua) — Price for goods and services among South Korean suppliers kept rising for the second straight month in October due to a hike in electricity and natural gas charges, central bank data showed Thursday.

The producer price index (PPI) advanced 0.5 percent in October from a month earlier, after climbing 0.1 percent in September, according to the Bank of Korea (BOK).

The growth was mainly driven by higher utility costs. Producer prices for electricity, natural gas and tap water spiked 8.1 percent in October on a monthly basis.

Prices for agricultural, livestock and fishery products retreated 7.3 percent last month on sharp price falls for livestock and agricultural products.

Producer price for industrial products added 0.3 percent on expensive oil products.

The price for coal and oil products increased 1.9 percent, and the price for food and beverage gained 0.4 percent last month.

Services price rose 0.2 percent on higher costs for the transport and the eatery and lodging services. Enditem

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