South Korea's producer prices declined at a faster pace in January and at the steepest pace since July 2009, preliminary figures from the Bank of Korea showed Tuesday.
The producer price index fell 3.6 percent year-on-year in January, faster than December's 2.1 percent decline.
On a monthly basis, producer prices fell at a faster pace of 1.2 percent in January following a 1.0 percent drop in the prior month.
Prices of agricultural, forestry and marine products dipped 1.3 percent month-over-month in January and manufacturing industry product prices registered a fall of 1.9 percent. Prices in the Utility sector dropped by 2.4 percent.
Meanwhile, domestic supply price index tumbled 6.2 percent annually and fell 2.4 percent monthly in January.
Total output prices declined 4.5 percent in January from the previous year and slipped 1.9 percent from the preceding month.
by RTTNews Staff Writer
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