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


Prices in February 1999



     Consumer prices rose by 0.4 percent in February 1999 over the previous month, following a 0.1 percent drop in January 1999. Much of the rise in consumer prices was caused by the increasing demand for agricultural & marine products, and especially fruit, vegetables, livestock products, etc. around the Lunar New Year holidays. This had an offsetting effect on the decline in prices of industrial products and services.

     Producer prices edged down by 0.2 percent in February 1999 from a month earlier. The major contributions to the decline in the PPI came from price reductions among manufacturing industry products affected by lower international commodity prices and from some easing of charges for services in response to the subdued demand for transport services.


Price Trends

(unit : %)

 

Feb 98 1)

Feb 97 to
Feb 98

Jan 99 1)

Feb 99 1)

Feb 98 to
Feb 99 

Consumer Price Index

 

 

 

 

 

   All items

1.7

9.5

-0.1

0.4

0.2

   Agri. & marine products

0.7

4.9

  1.3

3.2

10.1

   Industrial products

2.9

14.4

-0.4

 0.0

-2.4

   Services 2)

1.0

7.3

-0.2

-0.2

-0.6

Producer Price Index  

 

 

 

 

 

   All items

2.5

15.3

-1.1

-0.2

-4.3

   Agri. forest & marine products

0.8

-2.7

1.4

5.5

19.1

   Manufacturing industry products

3.3

18.5

-1.4

-0.9

-6.8

   Electric power, water & gas supply

2.1

19.4

0.3

0.0

-0.4

   Services 3)

0.8

10.9

-0.8

-0.3

-3.8

  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.

The Bank of Korea