South Korea Producer Prices Rise 0.3% In July

RTTNews | 1478 days ago
South Korea Producer Prices Rise 0.3% In July

(RTTNews) - Producer prices in South Korea were up 0.3 percent on month in July, the Bank of Korea said on Thursday.

That was down from the upwardly revised 0.6 percent increase in June (originally 0.5 percent).

Individually, prices for agricultural, forestry & marine products rose 4.1 percent on month; manufacturing products fell 0.6 percent; utilities advanced 3.9 percent; and services rose 0.6 percent.

On a yearly basis, producer prices climbed 9.2 percent - down from the upwardly revised 10.0 percent spike in the previous month (originally 9.9 percent).

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Bank Of Korea Hikes Key Rate For Second Straight Time

Bank Of Korea Hikes Key Rate For Second Straight Time

The Bank of Korea raised its benchmark rate by a quarter-point for the second straight meeting on Thursday, to prevent broadening of inflationary pressures. The Monetary Policy Board of the Bank of Korea voted 6-1 to raise the base rate by 25 basis points to 3.00 percent. The bank had lifted the rate by a quarter-point at the previous meeting in July.
RTTNews | 15 days ago