Inflation rose 3.2% year-on-year, the sharpest since December 2023, driven by a 24.7% jump in fuel prices
South Korea consumer prices hit 30-month high in June on fuel surge
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Summary
The data ministry said fuel prices shot up 24.7 percent, contributing 0.93 percentage point of the overall increase in consumer prices. Earlier in the day, data from the Ministry of Data and Statistics showed that South Korea's consumer prices, a key gauge of inflation, rose 3.2 percent last month from a year earlier, marking the sharpest increase since December 2023, when the figure was at the same level. Prices of industrial products rose 4.4 percent, driven largely by higher fuel prices.
Furthermore, The price of international flight tickets shot up 28.2 percent. Although such demand may increase, the government will also release stockpiled reserves, so the program is unlikely to add upward pressure on prices," the official said.
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The data ministry said fuel prices shot up 24.7 percent, contributing 0.93 percentage point of the overall increase in consumer prices.
reliability moderate2/2 sourcesEarlier in the day, data from the Ministry of Data and Statistics showed that South Korea's consumer prices, a key gauge of inflation, rose 3.2 percent last month from a year earlier, marking the sharpest increase since December 2023, when the figure was at the same level.
reliability moderate2/2 sourcesPrices of industrial products rose 4.4 percent, driven largely by higher fuel prices.
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The price of international flight tickets shot up 28.2 percent.
according to Yonhap NewsAlthough such demand may increase, the government will also release stockpiled reserves, so the program is unlikely to add upward pressure on prices," the official said.
according to Yonhap News
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