Green onion 53%, chicken 43%, egg 34% jumped… Producer price 3 months↑

Producer prices have risen for three months due to rising prices of agricultural, forestry and fishery products and petroleum products.

According to the Bank of Korea, the producer price index for January was 104.88, 0.9% higher than last December.

Agriculture, forestry and fishery prices jumped 7.9%, recording the largest increase in two years and five months since August 2018, especially for green onions and pumpkins, and 40 to 50% for chickens and eggs.

With strong international oil prices, industrial product prices rose 1.0%, while coal and petroleum products such as diesel and naphtha were on the rise.

Inflation of producers in the service industry also rose 0.5% from December, with the largest increase in finance and insurance by 2.3%.

The Bank of Korea said, “Agricultural, forestry and fishery prices have risen due to the impact of a decrease in shipments of agricultural products due to the cold wave, the spread of highly pathogenic AI, and killing,” said the Bank of Korea. “I expected.



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