South Korean producer prices fell for the first time in 31 months in June

Data from the Bank of Korea (BOK) showed that producer prices in South Korea fell year-on-year for the first time in 31 months in June, as the index was 0.2% lower in June compared to the same period last year, after rising 0.5% in May.

"International oil prices are recovering this month and there will be upward pressure on agricultural products from the heavy rains. We will need to watch the trend more," a Bank of Korea official said. On a monthly basis, PPI declined by 0.2%, the third month of decline, after declining by 0.4% in May. Prices of coal and petroleum products declined by 3.7%, agricultural products were 1.3% lower, while utilities prices increased by 1.8%.