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Inflation Climbs to 3.1% in February

Written: 2024-03-06 09:38:45Updated: 2024-03-06 09:40:52

Inflation Climbs to 3.1% in February

Photo : KBS News

Consumer prices rose over three percent last month due to the soaring prices of agricultural products and the rise in global oil prices.

According to Statistics Korea on Wednesday, the country's consumer price index stood at 113-point-77 in February, up three-point-one percent from a year earlier.

The inflation rate in January marked two-point-eight percent to fall below the three percent mark for the first time since July last year, but rose back above the mark in a month. 

A 20-point-nine percent rise in the prices of agricultural products pushed up overall prices last month by zero-point-eight percentage points. 

An official at Statistics Korea said that the high prices of fruit and petroleum products pushed the inflation rate above three percent. 

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

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