South Korea's producer prices hit a high not seen in more than five years in September. <br />The nation's central bank says this summer's extremely hot weather affected the selling prices received by domestic producers.<br />Ko Roon-hee explains. <br />Data released by Korea's central bank hints that consumer prices will rise in the coming months. <br /><br /> The Bank of Korea revealed Tuesday… that last month's producer price index, a key barometer of future inflation, hit its highest level since August 2013. <br /> September's index hit 105-point-78…which is 0-point-3 percent higher than the previous month.<br />This is a 2-point-7 percent increase from the same period last year… and extends the on-year streak of gains to a 23rd straight month.<br /><br /> In particular, producer prices of agricultural goods rose 1-point-6 percent compared to the previous month…mainly because of the record heatwave this summer. <br />In August, temperatures in Seoul sizzled at an 111-year high and the intensity of the heat wave led to supply shortages. <br />Prices of tomatoes soared by a whopping 96-point-7 percent and bell peppers jumped by 92-point-6 percent over the same period. <br />The overall producer price index for agricultural, forestry and marine products marked its highest point since related figures were first compiled in 2000. <br /><br /> Meanwhile,... prices of manufacturing products rose by 0-point-3 percent on-month...due to rising international oil prices. <br />Coal and petroleum products prices increased by 3-point-4 percent. <br /><br /> The Bank of Korea added the prices of utilities -- electricity, gas and water -- also spiked one-point-five percent because the government's revision to the progressive electricity billing rates only came into effect in August. <br />Ko Roon-hee, Arirang News. <br />
