South Korea’s consumer prices rise

Seoul, June 3 (IANS) South Korea’s consumer prices rose 1 percent in May from a year earlier due to a fall in farm goods and oil product prices, a government report showed Monday.

Consumer prices rose 1 percent on-year in May after gaining 1.2 percent in the prior month, according to a report by Statistics Korea.

The figure was the lowest since September 1999 when the prices increased 0.8 percent, and stayed in the 1-percent range for seven straight months, reported Xinhua.

Lower agricultural product prices and falling global crude prices led the continued consumer price inflation. Farm goods prices declined 3.7 percent in May from a year earlier, and the oil product prices slid 2.6 percent last month.

The opinions, beliefs and viewpoints expressed by authors, news service providers on this page do not necessarily reflect the opinions, beliefs and viewpoints of Hill Post. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company, or individual. Hill Post makes no representations as to the accuracy or completeness of any information on this site page.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.