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South Korea Producer-Price Inflation Accelerates to 4-Month High

South Korea’s producer prices rose at the fastest pace in four months after typhoons damaged crops and international oil prices increased.

Prices rose 1 percent in September from a year earlier, after a 0.3 percent increase in August, the Bank of Korea said in a statement today. The gain was 0.7 percent from the previous month.

The Bank of Korea may reduce its benchmark rate to 2.75 percent today after a surprise cut in July, according to 13 out of 16 economists surveyed by Bloomberg News.

To contact the reporter on this story: Cynthia Kim in Seoul at ckim170@bloomberg.net

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

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