producer price-March

producer price-March

Producer prices up for 3rd straight month in March

SEOUL, April 21 (Yonhap) -- South Korea's producer prices rose for the third straight month in March, as service and industrial goods prices increased, central bank data showed Friday.

The producer price index, a major barometer of consumer inflation, gained 0.1 percent in March from a month earlier, according to the preliminary data from the Bank of Korea.

It followed a 0.2 percent on-month advance in February and a 0.4 percent gain in January.

From a year earlier, the index rose 3.3 percent, continuing downward moves from a 5.1 percent rise in January and a 4.8 percent advance in February.

The on-month rise is attributed to a 0.2 percent increase in the prices of industrial goods, such as chemicals, and a 0.1 percent rise in the prices of restaurant and lodging services.

Producer prices are one of the key indicators that determine the trajectory of inflation, as they influence the prices businesses charge to consumers in the months ahead.

South Korea's consumer prices fell to the lowest level in a year last month, in the latest signal that inflation could slow down the road

Consumer prices, a key gauge of inflation, rose 4.2 percent last month from a year earlier, slowing from the rise of 4.8 percent tallied in February.

It marked the lowest level since a 4.1 percent growth tallied in March 2022.

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