Sat, 18 Sep 2021

S.Korea's consumer prices rise 2.6 pct in July

Xinhua
03 Aug 2021, 21:55 GMT+10

SEOUL, Aug. 3 (Xinhua) -- South Korea's consumer prices inflation hovered above 2 percent for the fourth consecutive month on higher prices for farm goods and oil products, statistical office data showed Tuesday.

The consumer price index (CPI) stood at 107.61 in July, up 2.6 percent from a year ago, according to Statistics Korea.

The headline inflation gained speed this year from 0.6 percent in January to 1.1 percent in February and 1.5 percent in March each, before rising above 2 percent in April and staying above the level for four months in a row.

Prices for agricultural, livestock and fishery products advanced 9.6 percent in July from a year earlier, after increasing 10.4 percent in the previous month.

Industrial products price gained 2.8 percent last month. Prices for diesel and gasoline spiked 21.9 percent and 19.3 percent respectively.

Prices for electricity, tap water and natural gas added 0.3 percent in July on a yearly basis.

Public services prices declined 0.5 percent, but private services prices went up 2.7 percent.

More South Korea News

Access More

Sign up for Seoul News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!