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Consumer Prices Increase over 2% for 6th Straight Month

Written: 2021-10-06 09:08:53Updated: 2021-10-06 11:19:58

Consumer Prices Increase over 2% for 6th Straight Month

Photo : YONHAP News

Consumer prices grew over two percent on-year for the sixth consecutive month in September. 

According to Statistics Korea on Wednesday, the country's consumer price index stood at 108-point-83 last month, up two-point-five percent from a year earlier. 

The increase is slightly lower than the two preceding months, which both posted the highest inflation growth for the year so far at two-point-six percent. It extended a rally of over two-percent growth since April, when it grew two-point-three percent. 

The last time the consumer price grew that much for six months or longer was from August 2009 to June 2012. 

Prices of agricultural, livestock and fisheries goods rose three-point-seven percent from a year earlier, while those of industrial products gained three-point-four percent, the highest growth since May 2012. Services prices increased one-point-nine percent. 

Core inflation, which excludes volatile food and oil prices, rose one-point-nine percent on-year in September, the largest growth since April 2016.

Prices in the third quarter rose two-point-six percent. It is the fastest growth in about nine years since the first quarter of 2012.

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