S. Korea's producer price falls in April

Xinhua
25 May 2023, 07:00 GMT+10

SEOUL, May 25 (Xinhua) -- Price for goods and services among South Korean suppliers recorded the first fall in four months due to cheaper farm goods and lower public utility rates, central bank data showed Thursday.

The producer price index (PPI) slipped 0.1 percent in April from a month earlier, after climbing 0.4 percent in January, 0.2 percent in February and 0.1 percent in March, according to the Bank of Korea (BOK).

Price for agricultural, livestock and fishery products among suppliers fell 1.8 percent last month, keeping a downward trend for the third successive month.

Price for electricity, natural gas and tap water retreated 2.8 percent in April from a month earlier, after declining 0.3 percent in February and 0.4 percent in March.

Producer price for industrial products added 0.2 percent owing to expensive oil and metal products.

Service price among suppliers increased 0.3 percent last month on higher prices for the eatery and lodging service, caused by the lifting of measures against the COVID-19 pandemic.

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