As uncertainty over fruit prices and oil prices continues, the consumer price inflation rate last month was recorded at the 3% level for two consecutive months.
According to ‘March Consumer Price Trends’ published by Statistics Korea, the consumer price index last month was 113.94, up 3.1% from the same month last year.
The rate of consumer price inflation fell to 2.8% in January this year, then rose to 3.1% in February and remained at the 3% level for two months.
Last month, prices of agricultural, livestock and fishery products rose by more than 11%, leading to an increase in overall prices.
In particular, apples rose by more than 88%, and pears and tangerines also jumped significantly.
Petroleum products also rose 1.2% due to oil price volatility.
This is the first time in 14 months that oil prices have risen since January last year.
The cost of living index, which mainly includes frequently purchased items and is close to perceived prices, rose by 3.8% compared to the same month last year.
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