South Korea's producer prices shifted to growth last month amid recent rises in prices of global oil and steel products.
According to preliminary data by the Bank of Korea (BOK) on Thursday, the producer price index for April came to 98.6, up 0.2% from the previous month. It marks the first on-month producer price growth in eleven months since May of last year, according to Korea's (KBS WORLD) radio.
Producer prices refer to the wholesale price of goods and services supplied to the market by producers and are reflected in consumer prices in about one to two months.
Producer prices of farm and fishery products rose 1.4% from the previous month, while industrial goods gained 0.2% in April, posting growth for the second consecutive month.