SEOUL (Reuters) – South Korea’s producer inflation in November slowed for a fifth consecutive month to a 19-month low, data showed on Thursday, pointing to weakening consumer price pressure ahead.
The producer price index in November stood 6.3% higher than the same month a year before, according to the Bank of Korea data, after a revised 7.3% annual rise in October. It posted its slowest gain since April 2021 last month.
Its annual growth kept slowing since touching a near 14-year high of 10.0% in June this year.
On a monthly basis, the index fell 0.2% in November after a 0.5% gain in October.
(Reporting by Choonsik Yoo; Editing by Rashmi Aich)
