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Financial News: South Korea Producer Prices Climb 0.5% In August

South Korea Producer Prices Climb 0.5% In August

09/21/2020 - 17:58:00 (RTTNews)

(RTTNews) - Producer prices in South Korea were up 0.5 percent on month in August, the Bank of Korea said on Tuesday - beating expectations for a decline of 0.9 percent following the 0.2 percent increase in July.

Individually, prices for agricultural, forestry and marine products jumped 6.1 percent on month, while manufactured products and utilities both rose 0.2 percent and services gained 0.3 percent.

On a yearly basis, producer prices fell 0.5 percent - roughly in line with forecasts and up from the -0.8 percent reading in the previous month.

Individually, prices for agricultural, forestry and marine products spiked 15.6 percent on year, while manufactured products rose 0.6 percent, utilities sank 2.3 percent and services gained 1.5 percent.

The domestic supply price index added 0.3 percent on month and fell 3.4 percent on year.

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