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Financial News: South Korea PPI Inflation Accelerates Further

South Korea PPI Inflation Accelerates Further

06/21/2018 - 00:17:00 (RTTNews)

(RTTNews) - South Korea's producer price inflation accelerated for the second straight month in May, preliminary data from Bank of Korea showed Thursday.

Producer prices climbed 2.2 percent year-on-year in May, faster than April's 1.7 percent rise, which was revised up from a 1.6 percent increase reported earlier.

Price index for agricultural, forestry and marine products grew 3.6 percent annually in May and those of manufacturing products gained by 2.8 percent.

Meanwhile, prices for electric power, gas and water supply dropped 2.3 percent.

Month-on-month, producer prices increased 0.2 percent from April, when it edged up by 0.1 percent.

The domestic supply price index rose 3.0 percent yearly in May and it decreased 0.7 percent from a month earlier.

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