Economic Statistics Office,
Research Department,
The Bank of Korea
Tel : 822-759-4347
Fax : 822-759-4307


Prices in January 1999



     Consumer prices fell 0.1 percent in January 1999 over the previous month, following a 0.2 percent drop in December 1998. The fall in consumer prices came amid the won's firmness against the U.S. dollar, stable prices for industrial products, private services and rents, and a slight rise in agricultural prices.

     Industrial product prices eased by 0.4 percent, which was largely ascribable to the recent steady rise in the won's exchange value and low oil prices in the international market. But agricultural product prices rose 1.3 percent mainly due to poor harvests of fruit and vegetables.

     Producer prices also dropped 1.1 percent in January 1999 from a month earlier. The decline in producer prices came mainly from a fall in the prices of manufacturing industry products like petroleum products, chemical products and the easing of service charges like those for leasing.


Price Trends

(unit : %)

 

Jan 98 1)

Jan 97 to
Jan 98

Dec 981)

Jan 99 1)

Jan 98 to
Jan 99 

Consumer Price Index

 

 

 

 

 

   All items

2.4

8.3

-0.2

-0.1

1.5

   Agri. & marine products

1.5

6.0

0.7

1.3

7.5

   Industrial products

3.5

11.5

-0.3

-0.4

0.4

   Services 2)

1.9

6.6

-0.3

-0.2

0.5

Producer Price Index  

 

 

 

 

 

   All items

4.3

13.0

-0.6

-1.1

-1.8

   Agri. forest & marine products

3.1

-0.9

2.1

1.4

13.8

   Manufacturing industry products

4.5

15.1

-0.8

-1.4

-2.8

   Electric power, water & gas supply

4.8

17.4

0.0

0.3

1.7

   Services 3)

3.6

10.2

-0.5

-0.8

-2.7

  1. Rates of increase compared with the previous month.
  2. Services purchased by households, and includes electric power, water & gas supply.
  3. Services purchased by enterprises.