The price of industrial products including petroleum has declined due to the reduction of the oil tax, but the total price has risen by 2% for the second consecutive month as the effect of the city gas reduction last year has disappeared.

In particular, kerosene, which is a common fuel, has fallen out of the tariff reduction target and has risen the most in six years and 11 months.

According to the National Statistical Office (NSO) 's Consumer Price Index for November 2018, the Consumer Price Index rose by 2.0% from November last year to 104.73 (2015 = 100).

Consumer price inflation, which had remained at 1 percent for the past 12 months, climbed to 2.0 percent in October and remained at the same level in November.

Consumer price inflation has remained at 2% for two consecutive months or more since July to September last year.

By product category, agricultural products rose by 14.4%, pushing overall prices up 0.60%.

Tomatoes (44.4%), waves (35.6%) and rice (23.8%) rose.

But livestock products fell 1.5%.

Egg prices (-14.3%), and pork prices (-4.4%).

Industrial goods rose 1.5%, boosting overall inflation by 0.47%.

The increase rate was lower than October (2.0%).

The National Statistical Office said some oil tax cuts were effective.

The price of oil rose 6.5 percent to 0.30 percent, while prices rose 11.8 percent in October.

Gasoline and light oil prices were slower than the previous month, but kerosene rose 16.4%.

The rate of increase in kerosene prices was the highest in six years and 11 months after recording 19.0% in December 2011.

Electricity, water, and gas climbed 1.5 percent from a year ago, raising overall prices by 0.06 percentage points.

We recorded a negative from October last year to October this year.

Personal service fees rose 2.5%, boosting overall inflation by 0.79%.

Kim Yoon-seong, head of the National Statistics Office, said, "Although there was some effect of the reduction of the oil tax, the increase in agricultural products and services prices and the effect of the reduction of city gas have disappeared.

(Photo: Yonhap News)