Producer prices rise for 6th consecutive month in Feb. on high oil prices: BOK

Korea's producer prices rose for the sixth consecutive month in February, driven by higher agricultural costs and rising global oil prices, central bank data showed Tuesday. The producer price index (PPI), a key gauge of future consumer inflation, climbed 0.6 percent from a month earlier to 122.56 in February, according to the preliminary data from the Bank of Korea (BOK). The index has increased steadily since September. From a year earlier, producer prices went up 2.4 percent in February, the fastest growth since July 2024. Producer prices serve as a key indicator of future inflation trends, as they affect the prices businesses charge consumers in the months ahead. Prices of agricultural, livestock and fisheries products increased 2.4 percent on-month, while those of industrial goods gained 0.5 percent. Service prices rose 0.6 percent, led by a 5.2 percent increase in prices of financial and insurance services. The domestic supply price index, which reflects both producer and import prices, gained 0.5 percent on-month in February. "Dubai crude oil prices rose by 10.4 percent in February fr

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