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June Consumer Prices Rebound from May to Post 0% Growth

Write: 2020-07-02 14:15:54Update: 2020-07-02 18:57:17

Photo : YONHAP News

Anchor: South Korea's consumer prices remained flat in June, following negative growth a month earlier. The rebound came after prices of agricultural, livestock and fishery products grew while the drop in oil prices narrowed. 
Our Bae Joo-yon has more. 

Report: According to Statistics Korea on Thursday, the country's consumer price index came to 104-point-87 last month, unchanged from a year earlier.

The nation's inflation rate had posted growth of under one percent for 12 straight months, but climbed and stayed over one percent for the first three months of the year.  

However, it fell back below one percent in April and posted negative growth of point-three percent in May amid the COVID-19 pandemic. 

Consumer prices rebounded in June after prices of agricultural, livestock and fishery products surged four-point-six percent, or higher than the three-point-one percent growth posted in May. In particular, prices of livestock goods climbed ten-and-a-half percent with more people opting to cook meals at home due to COVID-19 and households spending relief payouts provided by the government.  

Consumer prices also rallied last month after the drop in oil prices narrowed. Oil prices slipped 15-point-four percent in June, or less than the 18-point-seven decrease posted in May.  

The statistics agency projected that consumer prices are likely to witness both an increase and decrease in the coming months. It said oil prices trends and changes in demand in line with how the COVID-19 pandemic plays out will emerge as key variables.  
Bae Joo-yon, KBS World Radio News.

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