Korea's producer prices for the month of January have hit their highest level in 3 years, with vegetable prices seeing the biggest increases.<br />The rise in producer prices suggests consumers may be seeing higher prices in the near future.<br />Our Park Hee-jun reports. Korea's producer prices have increased at the fastest pace in four months in January.<br /> According to the Bank of Korea,... January's producer price index stood at 103-point-5, up 0-point-4 percent compared to the previous month and 1-point-2 percent on-year.<br />The index is at its highest since November 2014, and January saw the largest price increases since September last year.<br /><br />Farm and fishery products saw the largest increase.<br /> Their prices surged 2-point-5 percent from the previous month--hitting a 5 month high.<br />Agricultural products in particular jumped eight-point-seven percent, the largest jump since August last year, when they spiked 14-point-two percent.<br /> Recent freezing temperatures and heavy snowfall helped lead to a drastic rise in fruit and vegetable prices.<br />Bell pepper prices rose 151 percent, green chillis 89 percent, and cucumbers 41 percent compared to December last year.<br /><br />The producer price index is considered a barometer of inflation as it shows the wholesale price of goods and services,... which is a leading indicator of consumer prices.<br /> It is expected that the continued increase in prices-- especially of vegetables-- ,... is unlikely to end in the near future.<br />Park Heejun, Arirang News. <br />
