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Higher prices for coal and petroleum products compared to the same month of the previous year, maximum
(Seoul-Yonhap News) Kim, Soo-hyun, journalist = International oil prices slowed down and prices of agricultural products were stable, producer prices stagnated in June.
According to the Bank of Korea (BOK) announced June 20, "Producer Price Index for June 2018", the producer price index last month was 104.41, the same level than a month ago.
The increase in producer prices rose to 0.1% in April and 0.3% in May after March, before falling back to 0% in three months.
Producer price inflation is zero because of the stabilization of prices of agricultural products.
Prices for agricultural products fell 7.0% as shipments increased in the summer. Agriculture, forestry and fishing, including livestock products and aquatic products, declined 3.3 percent. The biggest drop since last October.
In detail, watermelon prices fell by 15.6%, prices by 39.9%, tomato prices (-22.4%) and potatoes prices (-55.9%) also dropped more than a month ago.
Oil prices, which led to producer price inflation in April and May, held back, slowing commodity price inflation.
Dubai oil, which was 74.41 dollars a barrel in May, fell 1.1% to 73.61 dollars last month.
For this reason, the industrial producer inflation rate rose from 0.4% in May to 0.2% in June.
Chemical price inflation went from 0.7% to 0.6%, while coal and petroleum products decreased from 0.4% to 5.4%.
Prices for electricity, gas and water and services were stable.
Prices for restaurants, restaurants and lodging increased by 0.1%, while transportation (-0.2%) and finance and insurance (-0.5%) prices increased decreased.
Producer prices rose 2.6% over the previous year. As a result, producer prices continued to rise for the 20th consecutive month since November 2016.
The year-over-year growth rate increases by 1.3% each month in March.
A Han official said, "The rise in international oil prices is due to an increase of one year on the other."
Although oil prices have recently slowed down, there is still a sharp increase over the same month last year.
International oil prices climbed to 58.4% in June from 46.7% in May.
As a result, coal and petroleum products rose 30.1% from one year to the next, the highest level since last February (38.4%).
On the other hand, the domestic supply price index, which measures changes in the prices of goods and services, including imports from domestic shipments, reached 101.07, or 0 7% more than a month ago.
The total index of producer prices, including national exports to exports, rose 0.3% to 100.25.
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