South Korea Producer Prices Rise 0.3% In November

RTTNews | 269 days ago
South Korea Producer Prices Rise 0.3% In November

(RTTNews) - Producer prices in South Korea were up 0.3 percent on month in November, the Bank of Korea said on Friday - up from 0.2 percent in October.

Among the individual components, prices for agricultural, forestry and marine products were down 2.1 percent on month, while manufacturing products rose 0.8 percent, utilities fell 0.4 percent and services were up 0.1 percent.

On a yearly basis, producer prices climbed 1.9 percent - up from 1.5 percent in the previous month.

Individually, prices for agricultural, forestry and marine products were up 5.5 percent on year, while manufacturing products rose 1.9 percent, utilities fell 1.2 percent and services were up 2.2 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.
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