Prices for goods and services among South Korean suppliers fell last month on cheaper farm goods and oil products, central bank data showed Wednesday.
The producer price index (PPI) dipped 0.3 percent in July from a year earlier, marking the first decline in 33 months, according to the Bank of Korea (BOK).
It was attributed to lower prices of farm goods and oil products. Price for agricultural, forestry and fishery products diminished 4.5 percent in July from a year earlier, with those for coal and oil products sliding 8.3 percent last month.
Compared with the previous month, the PPI was changed as prices for electricity, tap water and natural gas gained 0.4 percent in the month.
Prices for agricultural, forestry and fishery products inched down 0.1 percent in July on a monthly basis, with those for industrial products skidding 0.1 percent.
Editor:Cherie
