As the consumer price index maintained the 5% level for two months in a row last month, 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.

Reporter Jo Ki-ho reports.


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

[Eo Woon-seon/Economic Trend Statistical Review Officer, Statistics Korea: Consumer prices in September rose by 5.6% compared to the same month of the previous year as prices of industrial products, services, livestock and fishery products, electricity, gas, and water all rose.

] It rose to 6.3% in July, but fell to 5.7% in August and then fell again by 0.1 percentage point 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 rose 16.6%, and processed food 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 petroleum products, which are subject to large price fluctuations, the inflation rate was 4.5%, which is higher than the 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.