FINANCE

Producer prices up for 11th month in September

By Yonhap
  • Published : Oct 21, 2021 - 09:12
  • Updated : Oct 21, 2021 - 09:12

(Yonhap)
South Korea's producer prices gained 0.2 percent on-month in September due to a rise in prices of energy-related products, extending their monthly gains for the 11th straight month, central bank data showed Thursday.

The producer price index, a barometer of future consumer inflation, stood at 111.13 in September, compared with 110.86 a month earlier, according to the Bank of Korea (BOK).

The September reading was up 7.5 percent from the same month a year earlier, the BOK data showed.

The rise is due in part to a hike in prices of coal and oil products, which grew 2.1 percent on-month.

Crude oil prices have been on the rise in recent months, driving up production costs for factory products. South Korea depends on imports for its energy needs.

Prices of fishery, forest and farming products, however, declined 0.8 percent over the same period, the data showed. (Yonhap)