Producer prices in October rose 8.9% from a year ago… Highest rise in 13 years


The producer price index recorded the highest increase in 13 years compared to the same month of the previous year.

The Bank of Korea announced that the Producer Price Index (provisional) for October was 112.21, 0.8% higher than in September.

It has been on an upward trend for one year since November of last year, and has set a new high for seven months in a row since April.

In particular, the increase was the largest in 156 months since October 2008, up 8.9% compared to a year ago.

By item, industrial products rose 1.8%, of which coal and petroleum products rose 12.6%, primary metal products rose 2.5%, and chemical products rose 1.7%.

Electricity, gas, water and waste also rose 2.3%.

The price index of agricultural, forestry and fishery products fell 4.7%.

Producer prices are usually reflected in consumer prices in stages with a lag of about one month, but concerns about inflation are growing.

(Photo = provided by the Bank of Korea, Yonhap News)

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