S.Korea's producer price keeps rising for 5 months in May-Xinhua

S.Korea's producer price keeps rising for 5 months in May

Source: Xinhua| 2022-06-23 13:36:22|Editor: huaxia

SEOUL, June 23 (Xinhua) -- Price for goods and services among South Korean suppliers kept rising for five straight months in May, fueling worry about surging inflation, central bank data showed Thursday.

The producer price index (PPI) stood at 119.24 in May, up 0.5 percent from the prior month, according to the Bank of Korea (BOK).

The index continued to rise for the first five months of this year on higher commodity prices.

Producer price for industrial products, including oil products, gained 0.8 percent in May from a month earlier.

Price for coal and oil products surged 5.9 percent last month, while food and beverage price among suppliers rose 0.4 percent.

Livestock products price jumped 6.9 percent, but those for agricultural and fishery products slipped 1.7 percent and 0.3 percent, respectively.

Price for electricity, natural gas and tap water declined 1.1 percent in May on a monthly basis.

Services price increased 0.4 percent last month on high costs for the eatery and lodging and the transport services.