Producer prices fall for 3 consecutive months… Vegetable prices such as cabbage and spinach fall

Published 2024년 11월 20일

Tridge summary

The producer price index in South Korea has seen a decrease for three consecutive months, as reported by the Bank of Korea. The October index fell by 0.1% compared to the previous month, despite a rise in prices for industrial products due to increased international oil prices. The fall was primarily due to a significant drop in prices for agricultural products, especially cabbage, and livestock products. Conversely, prices for industrial products, coal and petroleum products, food and beverage products, electricity, gas, water, waste, and certain services saw an increase.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The producer price index has been on a downward trend for three consecutive months. It is analyzed that the overall price index has fallen as the prices of major agricultural products, including cabbage, have fallen sharply despite the rise in industrial product prices due to rising international oil prices. According to the ‘Producer Price Index (Preliminary) for October 2024’ announced by the Bank of Korea on the 20th, the producer price index last month fell 0.1% compared to the previous month. This is the third consecutive month of decline, and compared to the same month last year, it rose 1.0%. Looking at each item, agricultural products (-10.5%) and livestock products (-9.1%), including agricultural products, fell 8.7% compared to the previous month. Cabbage prices plunged 46.1% and spinach 62.1%, respectively. Among livestock products, pork fell 16.7% and chicken 7.8%. On the other hand, industrial product prices rose 0.2% compared to the previous month due to the rise ...

Source: Nongmin