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Producer prices rise for fifth straight month

Collected: 2017.01.20

Distributed: 2017.01.23

Source: Go Direct

South Korea’s producer prices rose for the fifth straight month in December, hitting the highest level in 17 months and giving more pressure on future consumer inflation. The producer price index (PPI) came to 100.79 last month, up by 0.8 percent from the previous month, according to preliminary data released on Thursday by the Bank of Korea. It climbed by 1.8 percent from a year ago.

The PPI is a barometer of future consumer inflation as it indicates wholesale prices of producers, which are reflected in consumer prices two to three months late.

It marks the first time that the PPI surpassed the benchmark of 100 since July 2015 when the index reached 101.40. The index measures the cost of goods and services before they reach domestic consumers.

By Boo Jang-won

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