S Korea's producer price growth tops 13-month high in April

17:07, May 10, 2010      

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South Korea's producer price growth hit a 13-month high in April mainly due to oil cost rise, the central bank said Monday.

According to the Bank of Korea (BOK), the producer price index, known as a gauge on future consumer inflation, gained 3.2 percent year on year in April, up from a 2.6 percent annual gain in March.

The April reading marked the sharpest growth since March 2009 when the figure hit a 3.5 percent yearly gain, the BOK said.

The steep hike was attributed to crude oil price rise, which jumped 67.3 percent annually in April alone.

South Korea is the world's fifth-largest crude buyer, relying 100 perent on imports for oil needs.



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