Seoul: Producer prices in the Republic of Korea rose in September, according to data released by the Bank of Korea on Wednesday.
According to Emirates News Agency, the Producer Price Index (PPI), a key indicator of future consumer inflation, increased by 0.4 percent month-on-month to 120.54, based on preliminary data from the central bank.
Compared with a year earlier, producer prices increased 1.2 percent, extending their on-year rise for the 26th consecutive month, reported Yonhap News Agency. Producer prices serve as a key indicator of future inflation trends, as they affect the prices businesses charge consumers in the months ahead.
The domestic supply price index, which accounts for both producer prices and import prices, added 0.1 percent on-month in September, according to the data. In September, consumer prices, a key gauge of inflation, rose 2.1 percent on-year, returning to the 2 percent range in a month.