Producer prices fall for 1st time in 11 months in July on declining oil prices

South Korea's producer prices fell for the first time in 11 months in July, driven by lower global crude oil prices despite a sharp rise in prices of agricultural products amid a heat wave, central bank data showed Friday. The producer price index, a key gauge of future consumer inflation, fell 0.4 percent last month from a month earlier, according to the preliminary data from the Bank of Korea. It marked the first on-month drop since August 2025. From a year earlier, producer prices rose 7.7 pe