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S. Korea's Consumer Price Index inflation rate 1.1% y/y in Feb.: Statistics Korea Updated: 2021-03-04 14:02:01 KST

South Korea's consumer prices in February saw the biggest jump in a year, due to a sharp increase in the prices of agricultural, livestock and fisheries products.
According to Statistics Korea on Thursday, the Consumer Price Index stood at 1-hundred-7 last month, up one.one percent on-year.
The inflation was largely driven by agricultural, livestock and fisheries product prices, which increased by 16.2 percent the sharpest increase in ten years.
Of these, agricultural products rose more than 21 percent.

"Prices of vegetables and fruits have been showing an upward trend due to a poor harvest last year following the long monsoon season and typhoons. This month in particular had additional demand during the Lunar New Year holiday, driving the huge jump in the prices.

The pandemic has also kept the demand for home meals high last month which led the prices for food and drink to rise by 9.7 percent.
The price of services was also up point-5 percent.
On the other hand, entertainment and culture, phone bills, transport and education all saw price drops.
Industrial product prices were down point-seven percent, despite the rise in global oil prices.
Even though consumer prices surged this month, the core inflation rate, an index that excludes food and energy prices, edged up 0.8 percent, staying below one percent for three consecutive months.
Kim Sung-min, Arirang News
KOGL : Korea Open Government License
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