South Korea's producer prices gained 12.5 percent in July, posting the fastest increase in 10 years, the South Korea's central bank said Friday.
It was the highest producer price growth since July 1998, when producer prices rose 12.8 percent, the BOK said.
"Soaring costs for oil and other raw materials pushed up the country's producer prices," said Yoon Jae-hoon, an official of the BOK, adding oil prices will be the main factor in determining whether there will be an upturn in producer prices.
Meanwhile, the BOK said prices of industrial products increased 17.9 percent in July from a year earlier. In June, the increase of the index was 15.2 percent.
Source:Xinhua
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