Consumer prices in Korea rose by 2.4% in October

SEOUL, 4th November, 2017 (WAM) – Consumer prices in the Republic of Korea rose last October, at the fastest pace in 15 months. The Korean Yonhap News Agency reported that data issued by the Ministry of Data and Statistics showed that consumer prices in Korea rose by 2.4% on an annual basis during the past month, and this represents the largest increase on an annual basis since July 2024 when inflation increased by 2.6%. During 2025, inflation remained above the Bank of Korea’s 2% target for 4 consecutive months through April, before slowing to 1.9% in May. Consumer prices then rose again, remaining above 2% in June and July, before slowing to 1.7% in August, and again rising above 2% to 2.1% in September. The prices of agricultural products, livestock, and fisheries increased by 2.3% year-on-year, adding 0.25 percentage points to the inflation rate in October, and the prices of livestock and fisheries increased by 5.3% and 5.9%, respectively. Core inflation, which excludes volatile food and energy prices, rose 2.5% last October.

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