South Korea experienced a rise in producer price inflation for the second consecutive month in December, reaching its highest level in five months, as revealed by preliminary data from the Bank of Korea on Tuesday.
In December, producer prices climbed by 1.7 percent compared to the previous year, following a 1.4 percent increase observed in November. This marks the most significant inflation rate since July, when prices had surged by 2.6 percent.
Examining sector-specific changes, manufacturing product prices increased by 1.2 percent year-over-year, while prices for wood and wood products saw a 2.9 percent rise. Conversely, the price of mining products experienced a decrease of 3.8 percent.
On a month-to-month basis, producer prices edged up by 0.3 percent in December, building on a 0.1 percent rise in November.
For the entire year of 2024, the average annual producer price inflation stood at 1.7 percent.
