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S. Korea's producer price index in September reaches all-time high Updated: 2021-10-21 09:38:56 KST


South Korea's producer price index hit a record-high in September, rising for the eleventh month in a row.
The Bank of Korea says the index was one-hundred-11.one-three, up point-two percent on-month.
It has now hit an all-time high for six straight months.
The index also jumped 7.5 percent on-year, the largest increase since 2011.
The central bank attributed the rise to higher prices of industrial goods, led by oil, raw materials and chemical products.

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"The price of Dubai crude from October 1st to 15th rose 10.5 percent compared to the same period a month earlier. Also, the average price of raw materials from October 1st to 15th increased by 5.7 percent on-month."
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Compared to the previous month, the prices of industrial goods rose by point-three percent.
Coal and petroleum products had the highest increase of 2.1 percent, while chemical and steel products edged up by point-four percent.
The increases were also driven by higher prices of electricity and delivery services.
But the price of agricultural products fell 2 percent after soaring in August.
An official attributed the fall in agricultural prices to an increase in supply due to the good harvest.
He also said the demand for agricultural goods fell after the national Chuseok holiday.
The official added that producer prices are likely to remain high in the near future due to soaring global oil prices.
Eum Ji-young Arirang News.
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