S. Korea's producer price index hits all-time high in May, up 9.7% y/y
Updated: 2022-06-23 10:03:16 KST
South Korea's producer price index, a key barometer of future inflation, hit a record high in May.
The Bank of Korea says the index, came to 119.two-four, up point-5 percent from April, rising for the fifth month in a row.. month-on-month.
On-year, it's a jump of nearly 10 percent the 18th straight on-year increase.
Livestock products saw especially large rises pork up almost 22 percent and eggs nearly 5 percent.
The central bank attributed the rise to the soaring global energy and commodity prices due to the war in Ukraine and supply chain disruptions.