Bank of Korea reports May producer prices up 0.8% on month and 8.5% on year

The Bank of Korea published preliminary May 2026 price index data showing that the Producer Price Index rose 0.8% from April and 8.5% from a year earlier. The monthly increase was driven by higher prices for manufacturing products, utilities and services, while agricultural, forestry and marine product prices fell. In the same release, the Domestic Supply Price Index was unchanged on the month but up 11.7% on the year, and the Total Output Price Index rose 1.2% on the month and 16.7% on the year. Within the Producer Price Index, manufacturing prices increased 0.7% on the month and 13.3% on the year, while services rose 1.2% on the month and 4.9% on the year. Agricultural, forestry and marine products fell 0.8% on the month, although they were still 4.8% higher than a year earlier. The flat monthly reading in the Domestic Supply Price Index reflected an 8.1% drop in raw materials prices offset by a 1.2% rise in intermediate goods and services and a 0.3% increase in final goods and services. The Total Output Price Index was lifted mainly by a 1.4% monthly rise in manufacturing product prices, while agricultural, forestry and marine products edged down 0.4%. All three indexes are preliminary and may be revised next month.