Producer prices in South Korea experienced a minor decline of 0.1 percent month-on-month for October, according to data released by the Bank of Korea on Wednesday. This follows a 0.2 percent decrease recorded in September.
Breaking it down by sectors, the month saw a significant decrease of 8.7 percent in the prices for agricultural, forestry, and marine products. Conversely, prices for manufacturing products and services experienced a modest increase of 0.2 percent each, while utility prices rose by 0.8 percent.
In terms of year-over-year comparisons, producer prices increased by 1.0 percent, marking the second consecutive month of annual growth.
Examining individual categories, prices for agricultural, forestry, and marine products recorded a 0.5 percent rise over the year. Manufacturing products saw a slight dip of 0.3 percent, while services experienced an increase of 2.2 percent, and utility prices surged by 4.2 percent.
