The Bank of Korea announced on the 22nd that the producer price index for June was 119.77 (based on 2020 as 100), down from the previous month (119.64).
This was a 0.1% increase compared to the previous year. Producer prices are the prices at which producers sell to companies and wholesalers, and are reflected in consumer prices after a time lag.
Compared to the previous month, livestock products (2.4%) and agricultural products (1.5%) increased, while agricultural, forestry and fishery products increased by 0.6%.
Livestock products, which showed the highest rate of increase, have been on an upward trend for four consecutive months. Industrial products have remained stable. Coal and petroleum products (1.
2%), but declines in chemical products (-0.1%) and computer and electro-optical equipment (-0.6%) offset the rise in crude oil prices.
While prices of city gas (-2.4%) and other categories fell 0.1% from the previous month, services such as finance and insurance (2.5%) and real estate (0.2%) rose, increasing 0.3%.
Among the items for which producer prices rose significantly last month were Chinese cabbage, up 31.1%, and pork, up 9.9%. Egg prices also rose 4.4%, marking the fourth consecutive month of increases.
The head of the price statistics team said, "Pork production has been declining recently, and although egg supply has increased by extending the age of laying hens, it has not been able to keep up with demand." He added, "Spring cabbage has declined due to high temperatures and disease.
However, in the case of seafood, prices of squid (down 36.5%) and mackerel (down 27.6%) plummeted, dropping 4.9% from the previous month.
The team chief explained that "the increase in catches is due to the end of fishing bans and other factors," and added, "The lower sea water temperature in June also contributed to the increase in catches."
2025/07/22 07:02 KST
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