Seoul: The Republic of Korea's producer prices rose for a fifth consecutive month in January, driven by a marked increase in semiconductor prices and higher agricultural costs, central bank data showed Tuesday.
According to Emirates News Agency, the producer price index (PPI), a key gauge of future consumer inflation, climbed 0.6 percent from a month earlier to 122.50 in January, accelerating from a 0.4 percent rise in December, based on preliminary data from the Bank of Korea (BOK). The index has steadily increased since September, rising 0.4 percent that month and 0.3 percent in both October and November.
Producer prices, which serve as a key indicator of future inflation trends, affect the prices businesses charge consumers in the months ahead. From a year earlier, producer prices went up 1.9 percent in January, as reported by Yonhap News Agency.