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Financial News: South Korea Producer Prices Fall For Third Month

South Korea Producer Prices Fall For Third Month

10/22/2019 - 00:37:00 (RTTNews)

(RTTNews) - South Korea's producer prices decreased for the third month in a row in September, data published by Bank of Korea revealed on Tuesday.

Producer prices declined 0.7 percent year-on-year in September, following a 0.6 percent fall in August. In July, price had decreased 0.3 percent.

The latest annual decline was driven by a 12.8 percent drop in agricultural food prices and a 1.9 percent fall in manufacturing products prices.

Meanwhile, electric power, gas, water and waste prices rose 2.6 percent and services cost gained 1 percent.

On a monthly basis, producer prices edged up 0.1 percent in September, following a 0.2 percent rise in the prior month.

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