On Tuesday, the Bank of Korea reported that South Korea’s producer prices rose 0.4 percent in September, influenced by higher global oil prices. The producer price index was 121.67 last month, an increase from the 121.17 seen in August. Year-over-year, the index was up 1.3 percent.
Producer prices are a key factor in determining consumer inflation, as they affect the prices that businesses charge customers. Statistics Korea data earlier this month showed that South Korea’s consumer prices were 3.7 percent higher year-over-year in September, the highest on-year rise since April.
The Bank of Korea's headquarters (Yonhap)
nyway@yna.co.kr
(END)