Producer prices in South Korea declined for the 12th straight month in July, tracking a fall in global oil prices, data showed Wednesday.

The producer price index, a measure of future consumer inflation, reached 101.43 in July, down 4 percent from the previous year, according to the preliminary data from the Bank of Korea .

It slipped 0.3 percent from a month earlier.

Prices of coal and petroleum products plummeted 31 percent from a year ago, the biggest on-year fall since 33.5 percent in April.

Utilities also moved down compared with the previous year.

Electricity, fuel and gas fees decreased a combined 10.3 percent, quickening from a 10.2 percent decline in June.

The index that covers agricultural goods, meanwhile, jumped 5.4 percent in July, increasing at the fastest clip in two months.

South Korea's consumer price growth has remained weak mostly due to low oil prices, with inflation remaining below 1 percent for the eighth straight month in July, according to government data. (Yonhap)