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Consumer Price Growth Slows for Second Month in September

Written: 2022-10-05 09:06:38Updated: 2022-10-05 10:28:05

Consumer Price Growth Slows for Second Month in September

Photo : YONHAP News

Consumer prices rose over five percent on-year last month while growth slowed for the second consecutive month.

According to Statistics Korea on Wednesday, the country's consumer price index stood at 108-point-93 in September, up five-point-six percent from a year earlier, with inflation slowing from August after spiking to the six-percent range in June from three-point-six percent in January.

Prices of commodities rose seven-point-two percent in September from a year earlier, with the prices of industrial goods rising six-point-seven percent. In particular, petroleum products spiked 16-point-six percent on-year.

Prices of agricultural, livestock and fisheries products rose six-point-two percent on-year, while the prices of electricity, gas and water jumped 14-point-six percent.

Service prices also gained four-point-two percent from a year earlier.

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

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