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Financial News: South Korea Producer Price Inflation At 3-Month Low

South Korea Producer Price Inflation At 3-Month Low

06/20/2019 - 02:34:00 (RTTNews)

(RTTNews) - South Korea's producer price inflation slowed to the lowest level in three months in May after rising in the previous month, data from Bank of Korea showed on Thursday.

Producer prices rose 0.4 percent year-on-year in May, which was slower than 0.6 percent increase in April.

The latest inflation rate was the lowest since February, when it was 0.1 percent.

The price index for electric power, gas and water supply grew 2.1 percent annually in May.

Prices for agricultural, forestry and marine products and manufacturing products dropped 2.3 percent and 0.3 percent, respectively. At the same time, cost of services increased 1.2 percent annually. Month-on-month, producer prices remained flat on May, after a 0.3 percent rise each in April and March.

The domestic supply price index rose 1.9 percent in May from a year ago and by 1.0 percent from April.

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