South Korea Dec producer inflation slows for sixth month

A shopkeeper waits for customers at traditional market in Seoul

SEOUL (Reuters) – South Korea’s producer inflation slowed in December for a sixth month, dropping to the lowest rate in 20 months, central bank data showed on Friday.

The country’s producer price index stood 6% higher in December than a year ago, compared with 6.2% in November, according to the Bank of Korea.

The annual rate slowed for a sixth consecutive month, from a near 14-year high of 10% in June, and marked the slowest since April 2021.

The index fell 0.3% on a monthly basis, at the same pace seen in November, in its second month of declines.

For the whole of 2022, producer prices rose at an annual rate of 8.4%, faster than 6.4% in 2021 and the fastest in 14 years.

(Reporting by Jihoon Lee; Editing by Christian Schmollinger)

Ad: Save every day with Amazon Deals: Check out today's daily deals on Amazon.

Related posts

Spirit Christmas expands New Jersey holiday pop-ups with new 2025 locations including Toms River

Flight attendant age discrimination suit moves forward in New Jersey court against United Airlines

Judge tosses inmate’s civil rights suit against Gov. Murphy over confinement claims