Consumer prices rose 5.0% last month, recording the lowest rate of increase in the past seven months.
The National Bureau of Statistics has predicted that the possibility of a rise in inflation due to the economic slowdown at home and abroad is unlikely to increase.
Reporter Oh In-seok on the sidewalk.
The consumer price index, which rose to 6.3%, the highest since the Asian financial crisis in July, recorded a level of 5% for 4 consecutive months, interrupting the upward trend.
Last month it fell 0.7 percentage points from a month ago.
This is the lowest increase in seven months since April’s 4.8%.
After peaking in July, the pace of inflation has gradually slowed.
The sharp decline in the prices of agricultural, livestock and fishery products had an effect on the decline in consumer prices last month compared to the previous month.
Agricultural, livestock and marine products increased by only 0.3%, slowing significantly from 5.2% in the previous month.
Farm produce, including vegetables, fell 2%, while cucumbers, lettuce and zucchini fell more than 30%.
In the case of oil, the upward price trend is easing as international oil prices continue to stabilize due to a decline in demand due to China’s tightening of coronavirus prevention measures.
Gasoline was down 6.8% and diesel was up 19.6%, but the increase was muted.
However, electricity, gas and water rates continued to rise by 23.1%, like the previous month.
The price of processed foods such as bread and snacks and out-of-home foods such as raw fish has continued to rise.
The National Statistical Office has predicted that prices will fluctuate at the current level for now.
[어운선 / 통계청 경제동향통계심의관 : 국내외 경기 둔화 우려가 있기 때문에 수요 측면의 물가상승 압력이 높아지진 않을 것이라고 보고 있거든요. 돌발 변수가 없다면 내년부터는 조금 올해보다는 많이 안정될 것으로 지금 기대하고 있습니다.]
The Bank of Korea has forecast that inflation will continue to climb to the 5% level until early next year.
However, it has been diagnosed that the extent of the economic slowdown and the possibility of an increase in the magnitude of energy rate hikes are still latent.
This is YTN Oh In-seok.
YTN Oh In-seok ([email protected])
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