S. Korea's producer price falls for 4 months through January

Source: Xinhua| 2019-02-22 11:32:18|Editor: ZX
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SEOUL, Feb. 22 (Xinhua) -- Price for goods and services among South Korean suppliers fell for four straight months through January as the effect of lower crude oil price late last year continued, central bank data showed Friday.

The producer price index (PPI) stood at 103.75 in January, down 0.2 percent from a month earlier, according to the Bank of Korea (BOK). It kept a downward trend for four months since October last year.

The bank attributed the downward trend to the continued effect of lower crude oil price in November and December despite the oil price's rebound in January.

Price for industrial goods dipped 0.6 percent on cheaper coal and oil product, but services price gained 0.4 percent last month.

Both farm goods price and the price for electricity, natural gas and tap water were unchanged in January from the previous month.

From a year earlier, the PPI added 0.2 percent in January, continuing to rise for 27 months in a row.