The government says it will make an effort to freeze utility costs until the end of the year. 

The plan was announced on Wednesday during a meeting of related ministers on consumer prices, chaired by First Vice Finance Minister Lee Eog-weon. 

The meeting was held two days early amid concerns over rising inflation spurred by rising global fuel prices and an increase in electricity prices.

The Korea Electric Power Corp. is set to raise electricity rates starting in October, its first hike in about eight years.

The Finance Ministry said there has been no discussion on the possibility of raising costs related to railways and roads, including toll fees.

The ministry is also believed to have put the brakes on increasing gas prices, which the Trade Ministry and Korea Gas Corp. have demanded.