In South Korea, the producer prices in February rose by a seasonally adjusted 0.3 percent, a slight downturn from the 0.5 percent rise witnessed in January, as confirmed by the Bank of Korea.
Breaking it down, prices for agricultural, forestry, and marine products saw an on-month increase of 0.8 percent. Prices for manufacturing products rose by 0.5 percent. However, utility prices slumped by 0.9 percent while there was a moderate rise in service prices of 0.2 percent.
Analyzing the year-on-year performance, producer prices rose by 1.5 percent, which is a minor improvement from the 1.3 percent increase reported in the preceding month.
Looking at individual sectors, the prices for agricultural, forestry, and marine products rose dramatically by 10.9 percent. The upward trend was also maintained in manufacturing products with an increase of 0.3 percent, utilities with an increase of 0.9 percent, and the service sector which saw a 2.1 percent rise.
