SEOUL, April 22 (Xinhua) -- Prices for goods and services among South Korean suppliers rose for a seventh consecutive month amid surging prices for oil products, central bank data showed Wednesday.
The producer price index (PPI) advanced 1.6 percent in March from a month earlier, keeping an upward momentum since September last year, according to the Bank of Korea (BOK).
It marked the fastest increase in about four years since April 2022.
The successive growth was attributable to soaring prices for coal and oil products, of which the producer price spiked 31.9 percent in March on a monthly basis.
Producer price for industrial products, including oil products, mounted 3.5 percent last month after rising 0.5 percent in the previous month.
Prices for agricultural, livestock and fishery products among suppliers retreated 3.3 percent in March compared with the previous month, turning downward from an increase of 2.4 percent in February.
Service price stood unchanged last month amid lower cost for the transport service that offset higher expense for the eatery and lodging service.
Prices for electricity, natural gas and tap water fell 0.1 percent in March after going up 0.1 percent in the prior month. ■
