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South Korea Consumer Prices Rose 3.2 Percent in June While Core Inflation Held at 2.5 Percent
South Korea's consumer prices increased 3.2 percent year-on-year in June, the second straight month above 3 percent and the sharpest rise since December 2023. Fuel prices rose 24.7 percent and contributed nearly one percentage point to the headline figure.
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South Korea's consumer prices rose 3.2 percent in June from a year earlier, Yonhap reported. The increase marked the second consecutive month above 3 percent and was the largest since December 2023. Industrial product prices climbed 4.4 percent, led by a 24.7 percent jump in fuel prices.
Gasoline prices rose 23.1 percent and diesel prices rose 33.7 percent. The fuel increase was the largest since July 2022 and added 0.93 percentage point to the overall consumer-price gain. Prices of agricultural and fishery products increased 3.6 percent.
Core inflation, which excludes food and energy, advanced 2.5 percent. First Vice Finance Minister Lee Hyoung-il said related ministries will increase on-site inspections to stabilize prices. The government has announced discount events at retail stores in July and August and plans to import additional eggs.
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