South Korea Producer Price Inflation Rises To 5-Month High

(RTTNews) - South Korea's producer price inflation accelerated for the second straight month in December to the highest level in five months, preliminary data published by the Bank of Korea showed on Tuesday.

Producer prices increased 1.7 percent year-on-year in December, after a 1.4 percent rise in November.

Further, this was the highest inflation rate since July, when prices had risen 2.6 percent.

Prices for manufacturing products alone grew by 1.2 percent compared to last year, and those for wood and wood products climbed by 2.9 percent. Meanwhile, the costs for mining products were 3.8 percent cheaper.

On a monthly basis, producer prices rose 0.3 percent in December versus a 0.1 percent increase in November.

The average annual producer price inflation for the year 2024 was also 1.7 percent.