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South Korea's producer prices fall for 3 months

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Staff Writer | June 19, 2017
Prices for goods and services traded between suppliers in South Korea fell for the third consecutive month on cheaper crude oil, central bank data showed Monday.
South Korea central bank
Asia   Cheaper crude oil
The producer price index (PPI) stood at 102.26 in May, down 0.2 percent from a month earlier, according to the Bank of Korea (BOK). The index continued to slide for three months in a row.

Industrial product prices shed 0.5 percent last month. Prices for coal and oil products declined 3.6 percent, with those for gasoline and diesel declining 5.6 percent and 6 percent each.

Prices for agricultural, livestock and fishery products inched up 0.1 percent as chicken and egg prices jumped amid the remaining effect of the avian influenza outbreak.

Chicken and egg prices surged 17.8 percent and 8.9 percent respectively on a monthly basis, but agricultural and fishery product prices dipped 3.1 percent and 2.5 percent each.

Prices for electricity, tap water and natural gas gained 1 percent, with those for restaurant, lodging, transport and real estate services rising 0.2 percent.


 

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