Producer prices in South Korea rose for the 21st month in a row in July... to an almost four-year high,... and that signals a probable price hike down the road for consumers too.
Data from the Bank of Korea released Tuesday shows last month's producer price index jumped by nearly three-percent from the same period last year.
An official at the central bank attributed the sharp increase to the soaring prices of agricultural products ...which were hit hard by the record-breaking heatwave.
Compared to the previous month, prices of farm produce were up by almost eight percent.
Prices of industrial goods edged up three tenths of a percent, and oil and petroleum products rose by almost three percent.