Agricultural prices rise in South Korea

In South Korea, for two months in a row, they record an increase in the producer price index. It is reported by KBS with reference to representatives of the Bank of Korea. According to published data, in July 2020, the producer price index amounted to 102.68 points, which is 0.2% more than a month ago. However, on an annual basis, the figure decreased by 0.8%. It is known that in June the indicator increased by 0.5%, in May the index remained unchanged. It is noted that the cost of agricultural, forest and fish products increased by 3.7%. In particular, agricultural prices rose by 6% due to the long rainy season, livestock products by 3.3%, industrial goods by 0.4% due to the restoration of world oil prices. The producer price index is an indicator of the average level of change in commodity, material and intermediate consumption prices relative to the base period.