Share
Copied
Customers shop for food at a supermarket in Seoul, South Korea, October 6, 2022. /CFP
South Korea's consumer prices in December rose 5 percent from a year earlier, official data showed Friday.
The consumer price index was 0.2 percent higher than in November, when it showed a 0.1 percent monthly decline, according to Statistics Korea data.
Agricultural products were 1.6 percent lower than a year earlier, but utility prices jumped 23.2 percent and private service prices climbed 6 percent, producing an overall high inflation rate. South Korea's annual inflation rate peaked at 6.3 percent in July.
Both the central bank and government noted that inflation is only likely to ease gradually and that the near-term inflation outlook is uncertain.
After the data release, the Bank of Korea said it expected annual inflation to hover around 5 percent through early 2023, with both upside and downside risks.
Separately, the South Korean finance ministry said it would continue efforts to stabilize prices, citing price adjustments at the beginning of the new year and increased demand during the Lunar New Year holidays as risk factors.
Search Trends
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466