[한은 미리보기]Will the leading economic indicator’producer prices’ rise for three months?

[이데일리 이윤화 기자] Next week, the Bank of Korea releases the producer price index, which is used as a leading indicator of consumer price. As producer prices rose for the second month, mainly for agricultural products in November and December of last year, it is noteworthy whether they will continue to rise in January.

On the 19th of last month, a gift set for agricultural and marine products is being sold at a large mart in Seocho-gu, Seoul. (Photo = Reporter Lee Young-hoon)

The producer price index is an index that reflects raw material, intermediate product prices, and product shipment prices, and is one of the leading economic indicators related to the vitality of the manufacturing industry. On the 18th, the BOK will announce the’Producer Price Index for January 2021′. In December last year, the producer price index was 103.78 (2015 level 100), up 0.7% from November (103.09). Earlier, the producer price index fell after five months in October last year and rebounded 0.1% in November.

On the 16th, the import and export price index for January 2021 is also released. In December of last year, the overall price level of products exported to Korea fell slightly from a month ago, continuing the decline for five months. This is due to the continued increase in export prices of major industries, as international oil prices and raw material prices turned to an increase compared to the previous month after September to October, and demand for related industries in some countries recovered. During the same period, import prices rose 1.8% from the previous month, focusing on mineral products (+7.8%) and coal and petroleum products (+9.9%) as international oil prices rose.

◇ Weekly report plan

△16th Tuesday

06:00 Import and export price index for January 2021

△17th (Wed)

12:00 Currency and liquidity in December 2020

△18th (Thursday)

12:00 Foreign currency deposit trends for residents in January 2021

△19th (Fri)

06:00 Producer Price Index for January 2021

12:00 International Investment Sheet at the end of December 2020 (provisional)