South Korean Producer Prices Rise at Slowest Pace in Two Years

South Korean producer inflation rose at the slowest pace in two years in March on a decline in agricultural product prices.

Prices (KOPPIYOY) climbed 2.8 percent from a year earlier, the smallest gain since March 2010, after a 3.5 percent increase in February, the Bank of Korea said in a statement in Seoul today. They rose 0.6 percent from February.

The Bank of Korea will keep its benchmark rate at 3.25 percent for a 10th straight month on April 13, according to all of nine economists surveyed by Bloomberg News. Consumer prices rose 2.6 percent in March from a year earlier, the slowest pace in 20 months, a government report showed on April 2.

To contact the reporter on this story: Eunkyung Seo in Seoul at eseo3@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net

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