S. Korea's producer price falls in August

Alsharq Tribune-AFP 

Prices for goods and services among South Korean suppliers fell in three months due to lower service costs, central bank data showed Tuesday.

The producer price index (PPI) dipped 0.1 percent in August from a month earlier after gaining 0.1 percent in June and 0.4 percent in July, according to the Bank of Korea (BOK).

The price of agricultural, livestock and fishery products among suppliers climbed 3.4 percent last month, lower than an increase of 5.6 percent in July on the back of slower growth in agricultural product prices.

The producer price for industrial products, including oil products, stood unchanged in August on a monthly basis after going up 0.2 percent in the previous month.

The price for coal and oil products decreased 1.1 percent, but those for food and beverage, chemical products, primary metal products, and electronic and optical devices inched up in single digits.

The price for electricity, natural gas and tap water was unchanged last month after sliding for the past three months.

Service price was down 0.4 percent on the back of lower expenses for information, communications and broadcasting services.