The country’s inflation rate was the highest in seven months in October after prices of agricultural products surged and prices of petroleum products saw significantly narrower drops.

According to Statistics Korea on Thursday, the country's consumer price index stood at 113-point-37 in October, climbing by three-point-eight percent from a year earlier, the most since March when consumer prices climbed by four-point-two percent.

It marked the third consecutive month for the rate to stand in the three-percent range. After standing at five-point-two percent in January, the rate moderated to slip to two-point-three percent in July but jumped back above three percent in August to three-point-four percent.

The statistics agency said prices of petroleum products fell one-point-three percent last month on-year to post a drop for the ninth consecutive month, but the agency noted that the extent of decline had significantly narrowed from September, when prices fell four-point-nine percent.

Prices of farm, livestock and fishery products surged seven-point-three percent on-year in October, with agricultural products in particular seeing prices climb 13-and-a-half percent.

Core inflation, which excludes volatile food and oil prices, rose three-point-six percent on-year in October.