S. Korea's commodity prices jump 7.7 pct in June

South Korea's commodity prices in June posted the highest growth rate in 18 months on high import costs of raw materials such as crude oil, the nation's central bank said Monday.

The price index for raw materials and intermediate goods surged 7.7 percent in June from a year earlier, the highest annual gain since a 8.2-percent increase in December 2004, according to the Bank of Korea (BOK).

Compared with the previous month, the index increased 0.7 percent.

The index serves as an indicator of consumer inflation in the coming months.

The price index has been growing at a faster pace in recent months. On an annual basis, the index expanded 7.5 percent in May and 4.2 percent in April.

"Higher prices of oil and rubber contributed to the surge in June," the BOK said. "A rise in prices of intermediate goods like naphtha and ethylene was also responsible."

The price index for final goods, or the barometer of overall inflation excluding services, rose 0.9 percent in June from a year ago, compared with a 0.8-percent rise in May, the bank said.

Seoul, July 17 (Yonhap News)