From BigGo Finance · BigGo Finance · · 1m 20s
South Korea's Producer Prices Rise 0.2% in September
South Korea's producer prices rose 0.2% in September, driven by Chuseok holiday demand and ending summer electricity discounts.
In brief
South Korea's producer prices rose 0.2% in September, driven by Chuseok holiday demand and ending summer electricity discounts. South Korea's producer prices rose 0.2% in September due to Chuseok holiday demand and the end of summer electricity discounts. Originally reported by BigGo Finance.
South Korea's Producer Prices
South Korea's Producer Price Index rose 0.2% in September from the previous month, extending its upward trend to a second consecutive month.
Chuseok Holiday Demand
Chuseok holiday demand pushed agricultural, forestry and fishery products up 2.6%, with cabbage surging 42.9% and beef jumping 10.4%.
Residential Electricity Surge
Residential electricity soared 13.4% as the summer progressive-rate discount ended, driving up prices for electricity, gas, water and waste.
Year-Over-Year Change
On a year-over-year basis, the index climbed 7.7%, a smaller gain than August's 7.9%.
Manufactured Goods
Manufactured goods were flat as declines in electronics, including computer memory devices (-11.8%), offset gains elsewhere.
Services Sector Decline
The services sector fell 0.1% on a 15.8% drop in tourist accommodation and a 6.6% decline in hotels.
Supply Price Index
The supply price index, which includes imported goods, was unchanged with raw materials rising 3.2% but intermediate goods and final goods each falling 0.3%.
The headline
South Korea's producer prices rose 0.2% in September due to Chuseok holiday demand and the end of summer electricity discounts.
