Accra:Seoul Producer prices increased for the second month in a row in September, primarily due to higher prices of agricultural goods during the Chuseok season, as reported by central bank data on Wednesday.

According to Yonhap News Agency, the producer price index (PPI), a significant indicator of future consumer inflation, rose by 0.2 percent last month compared to August, which had already seen a 0.1 percent increase. This follows a decline in July, marking the first drop since August 2025.

Year-over-year, producer prices climbed 7.7 percent in September, slightly down from the 7.9 percent increase observed in the previous month. Producer prices are crucial for predicting inflation trends, as they impact the prices that businesses eventually charge consumers.

The Bank of Korea (BOK) attributed the 2.6 percent rise in the prices of agricultural, livestock, and fisheries products in September to heightened demand during the Chuseok holiday, which occurred in the fourth week of the month. Additionally, prices for electricity, gas, and water supplies increased by 1.3 percent in September. In contrast, the prices of industrial goods, such as petroleum and chemical products, remained stable compared to the previous month. The domestic supply price index, reflecting both producer and import prices, did not change in September from the previous month, According to data.