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(KPL/Yonhap) Republic of Korea's producer prices rose for the second consecutive month in October, driven by increases in prices of computers, and electronic and optical devices, central bank data showed Friday.
(KPL/Yonhap) Republic of Korea's producer prices rose for the second consecutive month in October, driven by increases in prices of computers, and electronic and optical devices, central bank data showed Friday.
The producer price index (PPI), a key barometer of future consumer inflation, gained 0.2 percent on-month to 120.82, following a 0.4 percent increase in September, according to preliminary data from the Bank of Korea (BOK).
Compared with a year earlier, producer prices increased 1.5 percent last month, extending their on-year rise for the 27th consecutive month.
In detail, prices of manufactured goods went up 0.5 percent from a month earlier, as those for computers, and electronic and optical devices surged 3.9 percent and basic metal products grew 1.3 percent.
Service prices increased 0.4 percent, led by a 2.9 percent jump in financial and insurance services.
But prices of agricultural and livestock products fell 4.2 percent on-month in October.
Producer prices serve as a key indicator of future inflation trends, as they affect the prices businesses charge consumers in the months ahead.
The domestic supply price index, which accounts for both producer prices and import prices, added 0.9 percent on-month in October, the data showed.
KPL
