Producer prices rise 0.2% for second month in September

  • South Korea’s producer price index rose 0.2% in September from August.
  • The producer price index reached 129.78, while annual inflation eased to 7.7%.
  • Agricultural products and utility prices rose, while the supply price index was unchanged.

South Korea’s producer price index rose 0.2% in September from August, extending its recovery to a second month after a 0.1% gain in August. The index reached 129.78 on a 2020-base scale, while annual producer inflation eased to 7.7% from 7.9% in August. Holiday-related demand pushed agricultural, forestry and fishery prices higher, and the expiration of summer electricity discounts raised utility costs. Manufactured goods were broadly unchanged as increases in chemical products were offset by declines in computers, electronics and optical equipment. The supply price index, which includes imported goods, was unchanged as higher raw-material costs were offset by lower intermediate and final goods prices.

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