Bloomberg News

South Korean Producer-Price Inflation Eases to a One-Year Low

December 10, 2011

Dec. 9 (Bloomberg) -- South Korean producer prices rose at the slowest pace in a year in November as vegetable and fruit costs declined on increased output.

Prices climbed 5.1 percent from a year earlier, after a 5.6 percent increase in October, the Bank of Korea said in a statement from Seoul today. They fell 0.2 percent from October. The cost of fruit and vegetables dropped 20.5 percent last month from a year earlier.

The Bank of Korea left its benchmark rate unchanged at 3.25 percent yesterday for a sixth straight month, saying that downside risks to growth are high. Consumer inflation accelerated to a three-month high of 4.2 percent last month, breaching the central bank’s target limit of 4 percent.

--Editors: Ken McCallum, Paul Panckhurst

To contact the reporter on this story: Eunkyung Seo in Seoul at eseo3@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net


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