South Korea producer prices rise in March at fastest in more than 3 years

SEOUL, April 22 : South Korea’s producer prices rose in March at the sharpest pace in more than three years on a surge in oil prices sparked by the Middle East conflict, central bank data showed on Wednesday.

The Bank of Korea’s producer price index rose 4.1 per cent in March from a year earlier, after rising 2.5 per cent in February. It was the fastest rise since February 2023.

On a monthly basis, the index rose 1.6 per cent, marking the fastest since April 2022, as the prices of coal and petroleum products jumped 31.9 per cent.