April 17, 2024

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[THE INVESTOR] Korea’s producer prices fell in November, marking the first monthly decline in five months, the Bank of Korea said on Dec. 19.

The producer price index -- a barometer of future consumer inflation -- stood at 103.02 in November, down 0.1 percent from October, according to the preliminary data from the central bank.

The government reduced natural gas bill by an average 9.3 percent on Nov. 1, as global prices of liquefied natural gas declined.

However, producer prices of industrial goods, which contribute more than half of the producer price index, rose 0.1 percent last month, the data showed.

Producer prices of agricultural and fishery products fell 0.5 percent from a month earlier, according to the data.

Year-on-year, the producer price index jumped 3.1 percent in November, marking the 13th consecutive month of gains.

By Alex Lee and newswires (alexlee@heraldcorp.com)