Inflation expectations rose for the second straight month in February due to concerns over rising public utility fees.

According to the Bank of Korea(BOK) on Tuesday, expected inflation, which measures consumers’ estimates on price increases over the next 12 months, stood at four percent this month, up one-tenth of a percentage point from January. 

The increase, which the BOK attributed to hikes in public utilities fees and a plan to raise subway and bus fares, marked the second consecutive month of upward movement after falling to three-point-eight percent in December.

Consumers' perceived inflation over the past year posted five-point-two percent, up zero-point-two percentage points from a month earlier.

Meanwhile, the consumer sentiment index, which measures consumers' current and prospective economic conditions, dropped zero-point-five points on-month to 90-point-two.