Korea’s consumer prices grew at a faster pace in October than a month earlier, but the growth trend remains subdued thanks to falling farming goods prices, a government report showed Tuesday.
The country’s consumer price index rose 1.2 percent last month from a year earlier, quickening from September’s 1.1 percent gain. This marks the first time in four months that prices rebounded from a month earlier.
The core inflation, which excludes volatile oil and food prices, rose 1.8 percent on-year, the slowest increase since February, when it rose 1.7 percent, the report showed.
Falling prices for farm goods have kept overall consumer prices in check.
The report showed that the prices of agricultural, livestock and fisheries products dropped 1.9 percent in October from a year earlier. Those of fresh foods, in particular, declined 6.6 percent, with the prices of fresh vegetables and fruits falling 10 percent and 10.8 percent, respectively.
Oil prices also fell 6.2 percent in October from a year earlier, while the prices of factory-produced goods inched up 0.6 percent over the same period. (Yonhap)
