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Producer prices in South Korea dropped 3.1% year-on-year in October, faster than the 2.6% fall in the previous month and the 3% drop in August, the Bank of Korea announced on Monday.
In October, producer prices of industrial products declined 5.4% annually, faster than the 4.9% slide in the preceding month. Prices in the agricultural, forestry & marine sector rose 0.1%, markedly slower than the 6.1% growth in the prior month. Producer prices of electricity, water & gas climbed 9.4%, while prices in the services sector rose 0.4%.
On a monthly basis, producer prices fell 0.8% in October, in contrast to the 0.1% rise in September and the 0.5% growth in August.
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