China News Service, Seoul, November 2 (Reporter Liu Xu) According to a data released by the Korea Statistics Office on the 2nd local time, South Korea's consumer price index (CPI) in October rose by 5.7% year-on-year to 109.21.
Data show that South Korea's CPI rose by 6% in June and 6.3% in July, dropped to 5.7% in August, and 5.6% in September, and in October it reappeared for the first time in three months.
Specifically, the price of industrial products rose by 6.3% year-on-year in October, of which petroleum products rose by 10.7%, and processed food rose by 9.5% year-on-year.
The prices of agricultural and sideline products rose by 5.2% year-on-year, of which the prices of agricultural products rose by 7.3%, vegetables by 21.6%, livestock products by 1.8%, and aquatic products by 6.5%.
It is worth noting that the price of hydropower and coal in South Korea rose by 23.1% in October, the highest value since the start of relevant statistics in January 2010, and the contribution rate to the CPI rose from 0.48 percentage points in September to 0.77 percentage points in October.
The price increase for personal services was flat year-on-year at 6.4%.
In addition, the core consumer price index excluding agricultural products and petroleum products rose by 4.8%, and the living price index, which reflects the price changes actually felt by the people, increased by 6.5% year-on-year.
According to the analysis by Statistics Korea, the price increase of oil and other industrial products and agricultural and sideline products slowed down in October, but the price of water, electricity and coal rose sharply, which pushed up the CPI in October.
Statistics Korea also predicts that South Korea's CPI growth may have peaked in July (6.3%) and will not rise to the 6% level in the future.
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