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| ▲ This photo, taken Feb. 2, 2022, shows gas prices at a filling station in Seoul. (Yonhap) |
consumer prices-January
Inflation growth hits over 3 pct for fourth straight month in January
SEOUL, Feb. 4 (Yonhap) -- South Korea's consumer prices rose more than 3 percent for the fourth consecutive month in January due to high prices of oil and farm products, data showed Friday.
The consumer prices advanced 3.6 percent on-year last month, compared with a 3.7 percent gain in December, according to the data compiled by Statistics Korea.
The country's consumer inflation has increased more than 3 percent since October last year.
Core inflation, which excludes volatile food and oil prices, rose 2.6 percent on-year last month, the largest figure since December 2015.
The statistics agency attributed the growth to rising oil prices and high prices of agricultural products.
Oil prices have surged on tight supplies and escalating tensions over Russia's potential invasion of Ukraine.
Dubai crude, South Korea's benchmark, reached about a seven-year high of US$87.58 per barrel as of end-January. South Korea depends mainly on imports for its energy needs.
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