South Korea’s PPI rose for the seventh month in a row in July

According to the Bank of Korea (BOK), prices for goods and services among South Korean suppliers rose for the seventh consecutive month in July, pressured by expensive agricultural products and high energy prices.

According to the report, the consumer price index (PPI) rose 0.3% in July to 120.47, marking the seventh consecutive month of increase.

Producer prices for industrial products, which include petroleum products, decreased by 0.6% in July compared with the previous month. Prices for petroleum products, chemicals, and metal products were down.

Prices for agricultural products rose by 11.9% in July, while prices for electricity, natural gas, and water increased by 3.9%.

Service prices rose 0.6% in July as the cost of food, including housing and transportation, increased. However, prices for livestock and fishery products fell by 2.0% and 3.5%, respectively.

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