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S.Korea's producer prices rebound in 4 months

English.news.cn   2014-01-20 10:31:04

SEOUL, Jan. 20 (Xinhua) -- South Korea's producer prices rebounded in four months due to higher prices of farm goods and industrial products, central bank data showed Monday.

The product price index (PPI), a barometer of future consumer price inflation, rose 0.2 percent in December from a moth earlier after falling 0.2 percent in the prior month, according to the Bank of Korea (BOK). It was the first rebound in four months.

From a year earlier, the producer prices declined 0.4 percent, keeping its downward trend for 15 straight months. It was higher than a 0.9 percent fall in the previous month.

The higher producer prices came amid a round in industrial goods prices amid higher global oil prices and higher prices of farm goods during the winter season.

Prices for agricultural, livestock and fishery products increased 0.7 percent in December from a month earlier, up from a 0.5 percent rise in November. Vegetable prices jumped 3.5 percent last month, offsetting a decline in prices of livestock and fishery products.

Manufactured goods prices inched up 0.1 percent on-month in December after sliding 0.4 percent in the previous month. Prices for oil and coal products advanced 1.7 percent amid higher crude prices, with chemicals prices rising 0.1 percent.

Prices for electricity, gas and tap water jumped 1.9 percent in December from a month earlier after rising 0.8 percent in the previous month. The jump was attributable to the price hike in utility costs such as gas and power caused by the government's efforts to reduce deficits among public corporations and agencies.

Service prices inched up 0.2 percent last month. Transport service prices increased 0.5 percent, and those for restaurants and lodging services rose 0.2 percent.

Editor: Mengjie
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