S. Korea’s producer price falls due to pork price

21-Nov-2019 Intellasia | Xinhuanet | 6:02 AM Print This Post

Price for goods and services among South Korean suppliers marked the first fall in three months due mainly to lower pork price, central bank data showed Wednesday.

The producer price index dipped 0.2 percent in October from a month earlier, after rising 0.1 percent in August and 0.2 percent in September each, according to the Bank of Korea (BOK).

The decline came as the price for agricultural, livestock and fishery products tumbled 4.7 percent on cheaper pork, caused by a supply increase and a weak demand.

Price for industrial products fell 0.1 percent in the month as prices for chemical products, as well as electronic and optical devices continued a downward trend for the second straight month.

Coal and oil products price added 0.4 percent amid the higher global price for crude oil.

Price for electricity, natural gas and tap water was unchanged in October from the previous month.

Services price added 0.1 percent last month on higher price for transport, food and lodging services.

http://www.xinhuanet.com/english/2019-11/20/c_138569350.htm

 


Category: Korea

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