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Producer prices in South Korea plunged to a near four-year low in November due to a continued fall in global oil prices, central bank data showed Wednesday.
The producer price index, a barometer of future consumer inflation, reached 104.14 in November, down 0.9 percent from the previous year, according to the preliminary data from the Bank of Korea.
It marks the lowest level since 102.71 in December 2010 and marks a fourth straight month of on-year decline.
The November figure was largely attributed to a sharp drop in oil prices. Prices of coal and petroleum products plunged 17.2 percent on-year last month, according to the data.
The index that covers agricultural goods such as vegetables rose 2.3 percent on-year last month, while that of utility fees also increased 4 percent over the period. (Yonhap)
The producer price index, a barometer of future consumer inflation, reached 104.14 in November, down 0.9 percent from the previous year, according to the preliminary data from the Bank of Korea.
It marks the lowest level since 102.71 in December 2010 and marks a fourth straight month of on-year decline.
The November figure was largely attributed to a sharp drop in oil prices. Prices of coal and petroleum products plunged 17.2 percent on-year last month, according to the data.
The index that covers agricultural goods such as vegetables rose 2.3 percent on-year last month, while that of utility fees also increased 4 percent over the period. (Yonhap)
