Seoul: South Korea's producer prices increased in June for the first time in three months, driven by rising prices of agricultural and livestock products, central bank data showed Tuesday. The producer price index, a major barometer of consumer inflation, added 0.1 percent in June from the previous month to 119.77, according to preliminary data from the Bank of Korea (BOK).

According to Yonhap News Agency, this marked the first on-month growth since March as the index fell 0.2 percent in April and 0.4 percent in May. On a yearly basis, producer prices increased 0.5 percent in June, marking the 23rd consecutive month of on-year increase, the data showed. June's increase came as prices of agricultural and livestock products rose 0.6 percent from the previous month due partly to what the BOK called a steeper rise in demand than supply of farm products, including pork and eggs.

Prices of petroleum products and services climbed 1.2 percent and 0.3 percent on-month, respectively. However, prices of electricity, gas, and other utilities edged down 0.1 percent, the BOK said. Producer prices are one of the key indicators that determine the trajectory of inflation, as they influence the prices businesses charge consumers in the months ahead.

Meanwhile, the domestic supply price index, which accounts for both producer prices and import prices, dipped 0.6 percent on-month in June, according to the data.