SEOUL, May 21 (Xinhua) -- Price for goods and services among South Korean suppliers rose for an eighth consecutive month amid surging price for oil products, central bank data showed Thursday.
The producer price index (PPI) soared 2.5 percent in April from a month earlier, continuing to go up since September last year, according to the Bank of Korea (BOK).
It marked the fastest increase in over 28 years since February 1998.
The successive growth came amid continued Middle East tensions that led to soaring prices for coal and oil products, of which the producer price spiked 31.9 percent in April on a monthly basis.
Producer price for industrial products, including oil products, mounted 4.4 percent last month, faster than a growth of 3.7 percent in the previous month.
Price for agricultural, livestock and fishery products among suppliers retreated 1 percent in April compared to the previous month, after going down 3.3 percent in March.
Service price gained 0.8 percent last month amid higher costs for transport and the finance and insurance service.
Price for electricity, natural gas and tap water added 0.3 percent in April, rebounding from a decrease of 0.2 percent in the prior month. Enditem
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