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9.7% Rise in Produce Prices Keep Inflation at 1%

Written: 2016-04-01 10:17:37Updated: 2016-04-01 14:04:03

9.7% Rise in Produce Prices Keep Inflation at 1%

Consumer prices in South Korea rose one percent in the month of March from a month earlier. 

Statistics Korea on Friday announced its monthly consumer price index(CPI), showing price hikes in agricultural products, rent and services. 

Fresh produce prices rose nine-point-seven percent from a year ago while prices of services rose two-point-three percent.

The latest jump in the CPI came despite a 12-point-four percent fall in domestic fuel prices, which curtailed inflation that could have been zero-point-five percent higher.

South Korea’s inflation rate was below one percent for eleven consecutive months from December 2014. But prices rose above one percent in December before dipping below one percent in January.

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