S. Korea's producer prices drop to 12-month low in Jan.
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S. Korea's producer prices drop to 12-month low in Jan.
  • Kim Su-a
  • 승인 2019.02.22 09:26
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South Kora's producer prices fell to a 12-month low in January on falling crude oil prices, central bank data showed Friday.

The producer price index, a barometer of future consumer inflation, reached 103.75 last month, down 0.2 percent from a month earlier, according to the preliminary data from the Bank of Korea (BOK).

It is the first time since January 2016 that the index has lost ground for four straight months.

On an on-year basis, it rose 0.2 percent to extend its positive streak for the 27th straight month since November 2016.

The central bank said a downside trend in oil prices largely affected the producer price index of Asia's fourth-largest economy, which imports almost all of its oil.

"The January index was influenced by a sharp drop in December oil prices, although they rebounded slightly last month," the BOK said.

The benchmark Dubai crude fell 12.6 percent on-month to an average of US$51.32 in December.

The January index for gasoline and petrochemical goods tumbled 4.2 percent on-month.


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