arirang news

Korea's producer prices rise 0.3%, up for 7th consecutive month Updated: 2017-03-20 18:24:31 KST


The Bank of Korea announced Monday that the country's producer price index rose to 102.6-2 in February up 0.3 percent from the month before.
And the central bank said higher prices for industrial goods like coal and petrochemicals are signaling higher inflation down the road.
On a year-by-year basis, last month's rise in producer prices was the steepest in more than five years at four.two percent -- the fastest since a 4.3 percent gain in December 2011.
The producer price index, or PPI, has now risen for seven months straight.
Manufactured goods were up nearly 7-percent from a year earlier, while agricultural and fisheries products surged 7.1 percent.
The fact that producer prices are rising means consumers will likely have to pay more as well.
Inflation in Korea is currently near the central bank's 2-percent target, but with consumption still fragile, the BOK has said it sees price pressures remaining near where they are for now.
Ji Myung-kil, Arirang News.

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