According to CoinMeta, Korean producer prices fell for the first time in July due to a decline in global crude oil prices, dropping by 0.4% from June. This change ended an 11-month consecutive increase, although year-on-year they are still up by 7.7%. In the data, a decrease in costs for industrial goods and utilities helped to ease inflationary pressures, while prices in agriculture, livestock, and fisheries rose due to weather-related supply disruptions. The domestic supply price index fell by 1.8%, indicating that a reduction in import costs was a major driving factor. Although current fluctuations in oil prices may affect future inflation trends, this decline reflects a short-term easing of energy prices.