Due to strong international oil prices, diesel and gasoline also rose by 7~9%
The BOK says, “Producer prices will rise in the direction of…
As cold waves, avian influenza (AI), and rising international oil prices overlap, producer prices have risen for three months, mainly for agricultural, forestry and fishery products and petroleum products.
According to the Bank of Korea on the 19th, the producer price index for January was 104.88 (2015 level 100), 0.9% higher than last December (103.90).
The index fell for the first time in five months in October of last year, then rebounded 0.1% in November and rose for three consecutive months until January.
Compared to January 2020, it is 0.8% higher, which is an increase for the second month compared to the same month last year.
When looking at the monthly fluctuation rate by item, in particular, prices for agricultural, forestry and fisheries products jumped 7.9%.
It is the largest increase in 2 years and 5 months since August 2018 (8.0%).
Livestock products rose 11.8% and agricultural products rose 7.8%. Among the detailed items, green onions (53%), pumpkin (63.7%), chicken (42.8%), eggs (34%), onions (29.5%), and early season (33.6%) )·Woruk (47.8%) showed a high rate of increase.
Due to the strong international oil price, the price of industrial products also rose by 1.0%.
Coal and petroleum products such as diesel (9.7%), naphtha (14%), and gasoline (7.5%) showed a clear rise.
The prices of producers in the service industry also increased 0.5% from December.
Finance and insurance (2.3%) rose the most, while transportation (0.7%) and information and communications broadcasting (0.7%) also rose.
Kim Young-hwan, head of the economic statistics bureau’s inflation statistics team, explained, “The price of agricultural, forestry and fishery products has risen due to the decrease in agricultural product shipments due to the cold wave, the spread of highly pathogenic AI, and killing.”
He said, “It has risen for 3 consecutive months compared to the previous month and 2 months in a row compared to the same month of the previous year, and as the pressure of rising prices of oil, agri-food, raw materials, etc. continues, it can be seen that producer inflation is in the upward direction.” Will continue.”
The domestic supply price index, which measures price fluctuations including imported goods, also rose 1.6% from the previous month, but is still 1.3% lower than the same month last year.
The January total output price index, which included both domestic shipments and exports, also rose 1.2% from December.
/yunhap news