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S. Korea's Consumer Prices Rise for Second Month

Written: 2020-09-02 09:10:59Updated: 2020-09-02 10:42:31

S. Korea's Consumer Prices Rise for Second Month

Photo : YONHAP News

South Korea's consumer prices rose for the second consecutive month in August due to a rise in prices of agricultural products. 

According to Statistics Korea on Wednesday, the consumer price index in August stood at 105-point-five, up point-seven percent on-year. It's the largest growth since March. 

Consumer prices grew less than one percent on-year for 12 consecutive months in 2019, but increased more than one percent from January to March this year.  

The growth slowed to nearly zero percent in April and the index posted negative growth in May due to the fallout of the COVID-19 pandemic. The reading remained flat in June but then turned around to a growth of point-three percent in July. 

Prices of agricultural, livestock and fisheries products jumped ten-point-six percent on-year in August, the largest gain since August 2017. 

Industrial goods dropped point-four percent, while prices of gas, water and electricity slipped four-point-four percent from a year earlier.

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