South Korean central bank data showed Friday (Sept. 22) that pressure on South Korean producer prices eased in August. It was the first month in almost 2 years in which producer price inflation has eased.
The producer price index rose 8.4% in August from a year earlier. This is cooling from a 9.2% increase in July and the slowest growth rate since September 2021.
The index fell by 0.3% compared with the previous month. This is the first decline since October 2020.