South Korea February producer prices saw fastest growth in over 5 years
The producer price index (PPI) for February rose 4.2 percent over a year ago, the Bank of Korea said, up for a fourth month and at the fastest clip since a 4.3 percent gain in December 2011.
This accelerated from a revised 3.9 percent growth in January, which was higher than the previously reported 3.7 percent.
Industrial goods' producer prices led the growth among the sub-indices, jumping 6.9 percent on year, as coal and oil products drove prices.
On a monthly basis, February producer prices rose 0.3 percent, slowing from a revised 1.4 percent gain in January.
January's growth was earlier reported at 1.3 percent. Inflation in South Korea is currently near the central bank's 2 percent target, but the BOK has said it sees price pressures remaining near where they are at present as consumption is still soft. ■
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