South Korea’s producer prices continued to decline in December, though at a slower pace than in the previous month, preliminary figures from the Bank of Korea showed Tuesday.
The producer price index dipped 3.9 percent year-over-year in December, following a 4.7 percent decrease in November. In October, prices had fallen 4.6 percent.
Prices for manufacturing industry products fell 6.8 percent annually in December and those of utility products plunged by 8.9 percent. Meanwhile, prices for agricultural, forestry and marine products grew 1.0 percent.
On a monthly basis, producer prices edged down 0.2 percent in December, slower than the 0.4 percent drop in the preceding month.
In the whole year, total producer prices slipped 4.0 percent as compared to the previous year.
Domestic supply price index went down 6.0 percent yearly and by 0.1 percent monthly in December.
Similarly, the total output price index decreased 4.5 percent in December from a year ago and dropped 0.1 percent from the prior month.
The material has been provided by InstaForex Company – www.instaforex.com