SEOUL, February 05 (AJP) - South Korea's consumer prices rose 2.2 percent in January from a year earlier, marking the highest increase in six months amid rising oil prices and depreciation of the Korean won, the statistical office said Wednesday.
The January figure represents a significant uptick from December's 1.9 percent, breaking out of the 1 percent range maintained since September 2024. Petroleum product prices jumped 7.3 percent, with gasoline and diesel prices rising 9.2 percent and 5.7 percent respectively.
Agricultural prices surged due to adverse weather conditions, with radish prices soaring 79.5 percent and cabbage rising 66.8 percent. Seaweed prices recorded their highest increase in 37 years and 2 months, jumping 35.4 percent since November 1987.
"The January inflation rate widened from the previous month mainly due to rising international oil prices and exchange rates," said Lee Du-won, Statistics Korea's economic trends statistics director, adding that increases in dining-out costs and insurance services contributed to the 0.3 percentage point rise from the previous month.
Core inflation, which excludes volatile food and energy prices, rose 1.9 percent year-on-year.
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