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Biz News Korea(Eng)
Korea’s CPI up 1.0 percent on year in March for the second consecutive month
- Collected
- 2016.04.02
- Distributed
- 2016.04.04
- Source
- Go Direct
According to Statistics Korea, the country’s consumer price index rose 1.0 percent in March compared to the same period a year ago. The inflation hovered below 1 percent level for 11 months straight from Dec. 2014, gaining briefly to 1.0 percent in November and 1.3 percent in December last year. Inflation slipped below 1 percent again in January and rebounded above the threshold from February.
Consumers, however, would feel prices have gained more than that. The fresh food index that compiles prices on 51 items such as vegetables, fruits and fish hinging on weather conditions jumped 9.7 percent on year, the highest since 10.5 percent in January 2013.
The price of onion skyrocketed 99.1 percent in one year, and other prices of ingredients to staple food such as cabbages, spring onion, garlic and radish jumped by 86.5 percent, 49.8 percent, 47.1 percent and 35.9 percent respectively.
The government expects farm good prices to stabilize from April.
Rates of public utility and service also jumped - bus 9.6 percent, subway 15.2 percent, and water supply and service 21.1 percent.
By Na Hyun-joon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]