South Korea’s producer prices drop in June

[THE INVESTOR] South Korea’s producer prices fell 27 percent from a year earlier in June to 99.01 on declining coal and petroleum product prices, central bank data showed on July 19.

Compared to the 98.79 in May, the June figure reflected a slight increase.

Producer prices are a major indicator of future consumer inflation.

Prices of manufactured goods gained 0.5 percent on-month in June while those for agricultural and fisheries suffered a 1.7-percent on-month decline.

Utility prices, including electricity and water, remained unchanged from the previous month, according to the BOK.

By Kim Ji-hyun (jemmie@heraldcorp.com)