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South Korea Producer Prices Fall For First Time Since 2016

South Korea's producer price declined for the first time in nearly three years in July, data from Bank of Korea showed on Wednesday.

Producer prices dropped 0.3 percent year-on-year in July, after a 0.1 percent increase in June. This was the first decline since October 2016.

Prices for agricultural, forestry and marine products and manufacturing products declined 4.5 percent and 1.5 percent, respectively, in July.

Meanwhile, the price index for electric power, gas, water and waste, and services gained 2.7 percent and 1.3 percent, respectively.

Month-on-month, producer prices remained unchanged in July, after a 0.3 percent fall in the previous month.

The domestic supply price index dropped 0.8 percent annually in July and by 0.6 percent from a month ago.

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