RTTNews - South Korea's producer prices fell 1.3% year-on-year in May, representing the first decline in almost seven years, the Bank of Korea announced Tuesday. In April, the producer prices increased 1.5% annually, which was the slowest rise since September 2007, when prices were up 1%.

Month-on-month, producer prices were down 0.8% in May compared to a 0.2% increase in April.

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