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



Prices in May 1999


     Consumer prices dropped by 0.2% compared to a month earlier, the first decline following three months since the beginning of February when they had continued to rise. The downward turn in the CPI is affected mainly by the great increase of shipments coming on the market in the agricultural & marine products sector, especially vegetables. Another factor is the fall of house rents in the services sector.

     Producer prices, meanwhile, moved up by 0.4% after rising 0.3% in the previous month. The upward movement of PPI is mainly tied to rising prices in the prices of petroleum products and chemical products among manufacturing industry products, and fresh fruit among farm products.


Price  Trends

(unit : %)        


May 98 1)

May 97 to
May 98

Apr 99 1)

May 99 1)

May 98 to
May 99

Consumer Price Index






    All items

-0.5

8.2

0.3

-0.2

0.8

    Agri. & marine products

0.3

6.4

0.8

-1.5

7.8

    Industrial products

-1.1

11.9

0.4

0.4

0.7

    Services 2)

-0.2

5.9

-0.1

-0.3

-1.3

Producer Price Index






    All items

-1.1

13.5

0.3

0.4

-2.6

    Agri. forest & marine products

-1.1

-1.0

0.9

-0.1

18.2

    Manufacturing industry products

-1.4

16.3

0.3

0.6

-4.4

    Electric power, water & gas supply

0.0

17.2

-1.1

0.2

-1.2

    Services 3)

-0.1

9.8

0.0

0.3

-3.3


The Bank of Korea