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The rise in producer prices slowed last month. Prices for products such as chemicals have risen, but prices for agricultural products such as potatoes and watermelons have dropped.
According to the June June producer price index released by the Bank of Korea on June 20, producer prices last month were 104.41, the same level as there is a month. After rising for the second consecutive month since March (104.04) last month, Compared with the same month of last year, it increased by 2.6%. It has continued to increase for 20 months since November 2016.
The producer price index is a kind of wholesale price.
The slowdown in producer price inflation has led to lower prices for agricultural, forestry and fishery products. Prices for agriculture, forestry and fishing fell to 118.69, down 3.3% from the previous month. (-39.9%), watermelon (-15.6%), tomato (-22.4%) and potato (-55.9%) were the lowest among agricultural products during the first five months after January (117.25) fell 7.0%. Seafood also declined 1.5 percent. However, livestock products such as pork (11.5%) increased by 0.9%.
On the other hand, industrial products grew by 0.2% MoM, mainly chemicals (0.6%). Coal and petroleum products also rose 0.4% from the previous month. Electricity and electronics decreased by 0.2% compared to last month, mainly for LCD TVs (-4.8%) and LEDs (-6.5%).
Prices for services were similar to those of the previous month. Restaurants and accommodation rose 0.1%, while the financial and insurance index decreased by 0.5%. The price index of electricity, gas and water has not changed either.
Reporter Yang Min-cheol [email protected]
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