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Consumer Inflation Hits 24-year High in Q2

Written: 2022-08-22 15:25:22Updated: 2022-08-22 15:53:10

Consumer Inflation Hits 24-year High in Q2

Photo : YONHAP News

Ever-climbing energy and food costs contributed to a second-quarter increase in the nation’s consumer prices at the fastest rate in 24 years.

According to Statistics Korea on Monday, the national consumer price index came to 107-point-54 in the April-to-June period, rising five-point-four percent from a year earlier.

The figure is the highest for the second quarter since 1998.

By product, the price of oil led the jump, increasing more than 36 percent on-year, while the cost of processed food products and dining out also surpassed 7 percent.

By region, Gangwon Province posted the highest inflation growth rate of six-point-six percent, followed by North Gyeongsang Province and Jeju Island which both also passed the 6-percent mark.

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