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S. Korea posts Consumer Price Index inflation rate of 2.6% y/y in July: Statistics Korea
Updated: 2021-08-03 08:46:32 KST
Consumer prices in the month of July jumped by two.six percent from a year ago, posting the biggest rise in 2021.
Statistics Korea said on Tuesday that the increase was due largely to a 2.7 percent increase in the price of personal services like dining out and traveling.
The prices of farm and fisheries products also rose 9.6 percent.
Although it is the first time this year that the increase was not in double digits, it is still a major contributor to the high inflation.
Both eggs and garlic saw prices climb more than 50 percent.
Statistics Korea expects the inflation to stabilize in the second of the year as the prices of fresh produce and oil are expected to fall.
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