The consumer price inflation rate in March soared to the 4% level for the first time in about 10 years.
As international oil prices soared due to the Ukraine crisis, the inflation rate that started last year became even steeper.
According to the consumer price trend in March announced by the National Statistical Office today (5th), the consumer price index last month was 106.06 (2020=100), up 4.1% from the same month last year.
The consumer price inflation rate rose to the 3% range for the first time in 9 years and 8 months in October last year (3.2%), followed by November (3.8%), December (3.7%), January (3.6%), and February (3.7%) of this year. ) remained at the 3% level for 5 months and exceeded 4% last month.
It is the first time in 10 years and 3 months since December 2011 (4.2%) that the inflation rate has risen by 4%.
The price increase last month was driven by industrial products such as petroleum.
Petroleum rose 31.2%, the highest since November last year (35.5%).
Processed foods also rose 6.4%.
Service prices rose 3.1% as private services rose 4.4%, public services 0.6%, and rents 2.0%.
Among personal services, eating out rose 6.6%, the largest increase since April 1998 (7.0%).
Agricultural and fishery products rose 0.4%, slowing the rise.
The core price index (excluding agricultural products and petroleum products), which shows the key price trend, rose 3.3%.
It was the largest since December 2011 (3.6%).
The cost of living, which shows the perceived cost of living, also rose by 5.0%.
“Prices of industrial products such as petroleum and processed foods and personal services such as restaurants continued to rise,” said Eo Woon-seon, director of economic trend statistics at Statistics Korea.
(Photo = Yonhap News)