South Korea’s PPI rose for the fifth month in a row due to the increase in commodity prices

The Bank of Korea (BOK) has released its producer price index (PPI) for May. It rose for the fifth month in a row, leading to greater inflation concerns.

The PPI rose 0.5% in May from the previous month to 119.24, continuing its increase from the first five months of this year due to rising commodity prices.

Producer prices for industrial raw materials, including petroleum products, rose by 0.8% in May, prices for coal and petroleum products by 5.9%, and prices for food and beverages by 0.4%.

Live cattle prices increased by 6.9%, while agricultural and fishery prices decreased by 1.7% and 0.3%, respectively.

Meanwhile, prices for electricity, natural gas and water supply fell by 1.1% in May, while service prices rose by 0.4% due to higher housing and transportation costs.

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