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


Prices in March 1999



     Consumer prices rose again by 0.2% month-on-month in March following a 0.4% increase in February. The rise in the CPI was largely led by service charges such as those for middle and high school tuition and agricultural product prices, notably for fruits, especially apples and mandarin oranges, by together offsetting the effects of a 0.1% drop in industrial product prices month-on-month due to lower prices for processed foods and medicines.

     Producer prices edged down by 0.2% in March from a month earlier, following a 0.2% drop in February. While service charges were up 0.2% over the previous month, manufacturing industry products prices moved down 0.3%. The persistence of the downward movement of the PPI came from price reductions among manufacturing industry products affected by lower international commodity prices.


Price Trends

(unit : %)

 

Mar 98 1)

Mar 97 to
Mar 98

Feb 99 1)

Mar 99 1)

Mar 98 to
Mar 99 

Consumer Price Index

 

 

 

 

 

   All items

-0.2

9.0

0.4

0.2

0.5

   Agri. & marine products

0.6

5.9

3.2

  0.6

10.1

   Industrial products

-1.7

12.5

 0.0

-0.1

-0.8

   Services 2)

0.9

7.1

-0.2

0.3

-1.1

Producer Price Index  

 

 

 

 

 

   All items

-0.2

15.1

-0.2

-0.2

-4.3

   Agri. forest & marine products

1.8

0.4

5.5

0.0

17.0

   Manufacturing industry products

-0.6

17.9

-0.9

-0.3

-6.4

   Electric power, water & gas supply

0.0

18.7

0.0

0.0

-0.4

   Services 3)

0.4

11.3

-0.3

0.2

-4.0

  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