(MENAFN) South Korea's producer prices decreased for a sixth straight month in January to hit the lowest reading in more than four years as global oil prices continued to weaken, central bank data showed, QNA reported.
The producer price index, a barometer of future consumer inflation, reached 101.86 in January, decreasing 3.6 percent from the previous year, according to the preliminary data from the Bank of Korea (BOK).
The monthly reading is at the lowest level since November 2010, when it was 101.78.
The January result was due to a sharp decline in oil prices. Prices of coal and petroleum products fell 36.8 percent annually in January, growing from a 28.9 percent drop in December.
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