The producer price index rose 0.6% from the previous month in February, climbing for the sixth straight month. It is the longest rise since the first half of 2024.
According to the Producer Price Index (preliminary) that the Bank of Korea released on the 24th, producer prices in February this year were 123.25 (2020=100), up 0.6% from the previous month. Producer prices have risen for six consecutive months since September last year (+0.4%). This is the longest uptrend since the six straight monthly increases from December 2023 (0.1%) to May 2024 (0.1%).
By item, agricultural, forestry and fishery products jumped 2.4% from the previous month. Among them, fishery products rose the most at 4.2%, and agricultural products and livestock products also climbed 2.2% each. Among detailed items, bell peppers rose 36.9%, the biggest increase, followed by common squid (12.1%) and chicken (5.2%).
Industrial products rose 0.5% from the previous month. Coal and petroleum products jumped 4%, and primary metal products (0.8%), chemical products (0.4%), and computers, electronic and optical equipment (0.4%) also increased. Among detailed items, primary refined aluminum products (10.7%) rose the most, followed by naphtha (8.7%) and DRAM (7.8%).
Services rose 0.6% from the previous month, led by finance and insurance (5.2%), restaurants and lodging (0.4%), and real estate (0.2%).