SEOUL, South Korea’s producer prices rose 0.4 percent on-month in September, driven by higher global oil prices, the central bank said Tuesday.
The producer price index, a major barometer of consumer inflation, came to 121.67 last month, up from 121.17 tallied in August, according to the data from the Bank of Korea. From a year earlier, it gained 1.3 percent.
Producer prices are one of the key indicators that determine the trajectory of inflation, as they influence the prices that businesses will charge consumers in the months ahead.
South Korea’s on-year consumer prices accelerated by the most in five months in September, government data showed earlier this month.
Consumer prices, a key gauge of inflation, rose 3.7 percent last month from a year earlier, according to the data from Statistics Korea.
It was the highest on-year rise since the 3.7 percent growth tallied in April.
Source: Yonhap News Agency