ⓒYONHAP News 

Consumer prices rose over five percent on-year in May, growing at the steepest pace in nearly 14 years.

With petroleum prices remaining high, the cost of dining out, livestock and utilities jumped as well. 

According to Statistics Korea on Friday, the country's consumer price index stood at 107-point-56 in May, up five-point-four percent from a year earlier.

It is the largest on-year gain in 13 years and nine months since August 2008 when it grew five-point-six percent.

The inflation rate surpassed five percent for the first time since September 2008, when it marked five-point-one percent.

Prices of energy, food and services are rising due to a rebound in demand amid prolonged supply disruptions.

Prices of commodities rose seven-point-six percent in May from a year earlier, with the prices of industrial goods soaring eight-point-three percent. In particular, petroleum products spiked 34-point-eight percent on-year.

Prices of agricultural, livestock and fisheries products rose four-point-two percent on-year, while prices of electricity, gas and water jumped nine-point-six percent.

Service prices also gained three-point-five percent from a year earlier. The price of eating out increased seven-point-four percent. 

Core inflation, which excludes volatile food and oil prices, rose four-point-one percent on-year in May, the largest growth since April 2009.