Last month, the consumer price index maintained the 5% level for two months in a row, and the upward trend is slowing.

It is analyzed that the fall in international oil prices and the policy of lowering oil prices have taken hold of the overall inflation trend.

Correspondent Jo Ki-ho.


Consumer price inflation rose 5.6% in September compared to the same month last year.

It climbed steeply since February and rose to 6.3% in July, but fell to 5.7% in August and then declined 0.1 percentage point again last month.

The rise in overall prices has slowed as a result of the fall in international oil prices and cuts in fuel taxes.

By item, petroleum products rose 16.6% and processed foods rose 8.7%, up 6.7% for industrial products.

Agricultural and fishery products also rose 6.2%, in particular agricultural products recorded an increase of 8.7%.

Electricity, gas and water rose 14.6% and personal services rose 6.4%, respectively.

The so-called shopping cart price, which consumers often buy, rose 6.5%, but fell slightly from 6.8% in August.

Excluding agricultural products and oil, which are subject to price fluctuations, the inflation rate was 4.5%, up from 4.4% in August.

As inflation has slowed for two months in a row, the possibility of an inflation peak is being raised.

The National Statistical Office predicted that there is no possibility of a peak if the current price trend continues.

However, he added that there is also upward pressure due to variables such as whether the Organization of Petroleum Exporting Countries will cut production and the high exchange rate situation.