South Korea Producer Prices Sink 0.5% In October

South Korea Producer Prices Sink 0.5% In October

Producer prices in South Korea were down 0.5 percent on month in October, the Bank of Korea said on Friday.

That missed forecasts for a flat reading following the 0.1 percent increase in September.

Individually, prices for agriculture, forestry and marine products plummeted 9.6 percent on month, while utility prices were down 0.7 percent, manufacturing products eased 0.1 percent and services were flat.

On a yearly basis, producer prices sank 0.6 percent versus expectations for a lost of 0.1 percent after slipping 0.4 percent in the previous month.

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