South Korea's producer prices rise in 11 months

Prices for goods and services supplied by producers rose for the first time in 11 months, indicating a higher consumer price inflation, central bank data showed on Thursday.

The producer price index (PPI) stood at 98.60 in April, up 0.2 percent from a month earlier, according to the Bank of Korea (BOK).

Producer prices maintained a downward trend for 10 months through March amid lower crude oil prices, but the index rebounded last month on the back of higher prices of crude oil and steel products.

The figure indicated a rise in headline inflation, which rose above 1 percent in recent months after keeping a zero-percent level for most of last year amid cheaper oil.

Industrial goods prices gained 0.2 percent in April on a monthly basis, keeping an upward momentum for two months in a row.

Prices for coal and oil products advanced 2.2 percent, and the primary metal prices climbed 1.5 percent. Chemical products prices inched up 0.3 percent, but those for electrical and electronic devices declined 1.4 percent.

Prices for agricultural, livestock and fishery products increased 1.4 percent in April from a month ago.

Fresh food prices advanced 2.6 percent, and energy costs gained 0.5 percent.

Services prices edged up 0.1 percent on the back of higher prices for restaurant and lodging services as well as transport costs. Endit