South Korea’s consumer prices witnessed growth of nearly two percent last month.

Statistics Korea said Friday that the nation’s consumer price index grew one-point-nine percent year-on-year in February.
 
The surge is due to the rise in global oil prices. Oil prices jumped more than 13 percent, driving up consumer prices by zero-point-54 percentage points. The growth in prices of petroleum products was the highest to be recorded since November 2011.

Service prices climbed two-point-one percent, driving up overall prices by one-point-17 percentage points. Prices of agricultural, marine and livestock goods surged four-point-three percent, raising overall prices by zero-point-35 percentage points.
  
Growth in consumer prices had only stood at half a percent last August. Then between September and December of last year, the figure grew to the one percent range and reached two percent in January, posting the highest growth in four years and three months.