S. Korea's producer price index in August reaches all-time high
Updated: 2021-09-24 06:55:55 KST
South Korea's producer prices hit a record-high in August,rising for the tenth month in a row.
The Bank of Korea says the index stood at almost one-hundred-11, up point-four percent on-month.
It soared 7.3 percent on-year, the biggest increase in 10 years.
Officials attributed the rise to the higher prices of industrial goods, led by greater demand for chemical and metal products.
It was also driven by higher prices of agricultural products because of the unusually hot summer.