Korea's producer prices fall

South Korea's producer prices declined for the 14th straight month in November as oil prices fell and the local currency appreciated against the U.S. dollar, South Korea's News Agency (Yonhap) Tuesday. The producer price index, a barometer of future consumer inflation, slid 0.9% in November from a year earlier, compared with a 1.4% on-year decline in October, according to the Bank of Korea (BOK). On on-year growth basis, the producer prices have fallen every month since October 2012, when they fell 0.5% on-year. Prices of Dubai crude, South Korea's benchmark, fell 1.7% in November from a year earlier, compared with a 3.1% on-year decline in October. The Korean won appreciated 2.32% to the greenback in November compared with the previous year. The data came as the BOK froze the key interest rate at 2.5% for the seventh straight month in December. The on-year growth of consumer inflation picked up to 0.9% in November from 0.7% in October.