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S. Korea's Inflation Hits Nearly 10-Year High in November

Written: 2021-12-02 09:33:49Updated: 2021-12-02 09:56:57

S. Korea's Inflation Hits Nearly 10-Year High in November

Photo : YONHAP News

Consumer prices grew at the steepest pace in almost a decade last month. 

According to Statistics Korea on Thursday, the country's consumer price index stood at 109-point-41 in November, up three-point-seven percent from a year earlier. 

It is the largest on-year gain since December 2011 when it grew four-point-two percent. It marks the first time the figure surpassed three percent for two straight months since January and February in 2012.  

By product, prices of commodities jumped five-point-six percent from a year earlier. In particular, the prices of petroleum products soared 35-point-five percent, the largest growth since July 2008. 

Price growth of agricultural, livestock and fisheries goods also jumped seven-point-six percent on-year in November. 

Core inflation, which excludes volatile food and oil prices, rose two-point-three percent on-year last month.

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