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S. Korea's producer price growth stays high in Feb
Last Updated(Beijing Time):2012-03-09 10:26

South Korea's producer price growth stayed at a high level last month due to a gain in farm goods amid rising oil prices, the central bank said Friday.

The producer price index (PPI), a barometer of future consumer price inflation, advanced 0.7 percent in February from a month earlier, according to the Bank of Korea (BOK). From a year before, the producer prices gained 3.5 percent.

The February price growth stayed at a high level of 0.7 percent, equaling to the one for January, as prices for vegetables and fruits continued its upward trend amid higher oil prices, according to the BOK.

Prices for agricultural, livestock and fishery products jumped 4.3 percent on-month in February, up from a 0.5 percent on-month rise tallied in the previous month. Vegetable prices surged 10.6 percent, and fruit prices jumped 7.6 percent.

Manufactured goods prices rose 0.7 percent on-month in February due to faster growth in prices for petroleum and chemical products amid rising oil prices. Petroleum product prices rose 2.2 percent last month, up from a 2.0 percent on-month gain the previous month, and chemical product prices advanced 2.8 percent, higher than 2.6 percent rise tallied in January.

Service prices stayed unchanged in February as the fall in transport service prices offset the rise in other service prices. Prices for the transport service were down 0.3 percent, but financial service prices rose 0.7 percent.

Meanwhile, prices for electricity, water and gas edged up 0.2 percent on-month in February, up from a 0.1 percent on-month rise recorded in the previous month.

Source:Xinhua 
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