Producer prices up in August on prices of agricultural goods
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newstomato.comProducer prices in August rebounded, rising 0.2% from the previous month due to soaring prices of agricultural and livestock products caused by the heatwave and an increase in industrial city gas rates. However, the domestic supply price index fell for the second consecutive month due to lower exchange rates and oil prices. In September, it is analyzed that a renewed rise in international oil prices and gas rate hikes will exert upward pressure …
(Seoul = Yonhap News) Reporter Lee Do-heun = Domestic producer prices rebounded for the first time in a month last month due to factors such as the heatwave and rising oil prices.
The domestic producer price index returned to an upward trend last month. This was due to poor agricultural yields caused by the heatwave, coupled with rising prices for petroleum products and industrial city gas. According to the ‘August Producer Price Index (Preliminary)’ released by the Bank of Korea on the 18th, the index stood at 129.64 (2020=100), up 0.2% from the previous month.
Domestic producer prices reversed course and rose for the first time in a month.
Producer prices have reversed course and risen for the first time in a month as agricultural and livestock prices surged due to the heatwave. With fresh food prices climbing more than 7% in the past month and industrial city gas prices rising by double digits, inflation was pushed up. In September, inflationary pressure is expected to intensify further as the surge in international oil prices compoundes the situation. (Photo = Edaily Reporter Ba…
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