SEOUL, KOREA - Consumer prices in June rose 1.7 percent, the same level as the previous month, the highest level in 19 months. According to the National Statistical Office on July 1, consumer prices increased 1.7 percent from the same month a year ago. This is the same level as that for May, the highest since October 2012 when the figure was 2.1 percent.

 

The consumer price level has started rising gradually since March this year after exhibiting a declining pace for four months between November last year and February this year. The core consumer prices excluding those for farm goods and petroleum products for the month was 2.1 percent from a year ago and 0.1 percent from a month ago.

 

The consumer price index for living necessaries rose 1.4 percent from a year ago and fell 0.2 percent from a month ago. As for the fresh food price index, it declined 7.7 percent from a year ago and 4.2 percent from a month ago, largely because the prices for fresh vegetables and other fresh food items dropped 13.5 percent and 20.6 percent, respectively, from the same month last year. During the same period, fresh fruit prices fell 6.4 percent while those for fresh seafoods rose 0.3 percent.

 

The overall prices for utilities including gas (6.5%), electricity (2.7%), and heating (5.0%) rose 4.2 percent from the same month a year ago. The prices for public services such as outpatient medical cost (2.0%) and sewage charges (12.4%) increased 0.7 percent year on year while those for personal services including apartment maintenance cost (3.0%) and hairdresser's charges (5.1%) rose 1.8 percent year on year.

 

Source : The Korea Economic Daily