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S. Korea's producer prices rise 0.2 pct in Dec.
Last Updated(Beijing Time):2012-01-09 09:55

South Korea's producer price rose 0.2 percent last month from a month earlier due to gains in farm goods prices, the central bank said Monday.

The producer price index (PPI), a barometer of future consumer price inflation, advanced 0.2 percent on-month in December after posting a negative on-month rise for the first time in five months in November, according to the Bank of Korea (BOK).

From a year earlier, the producer prices gained 4.3 percent last month. For the whole of 2011, the PPI jumped 6.1 percent from the previous year.

The December rise was mainly attributed to gains in prices for vegetable, fruits and livestock products although chemical and metal product prices fell due to declining global commodity prices, according to the BOK.

By item, prices for agricultural, livestock and fishery products jumped 4.4 percent on-month in December, with prices of vegetables, fruits and livestock products climbing 5.9 percent, 8. 2 percent and 3 percent respectively.

Prices for electricity, water and gas advanced 2.6 percent last month from a month before due to hikes in electricity prices by the government.

In contrast, prices for manufactured goods edged down 0.1 percent on-month in December due to falling global raw material prices, the BOK said. Chemical and metal product prices dipped 1.4 percent and 0.3 percent each over the cited period.

Service prices inched down 0.1 percent on-month in December, marking the two straight month fall. Prices for both financial and transportation services slid 0.2 percent each last month, but real estate service prices edged up 0.1 percent.

Source:Xinhua 
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