April 16, 2024
Economy
Inflation tops 2% in May
[THE INVESTOR] Inflation in Korea touched the 2 percent level in May on high-flying oil and livestock prices, government data showed on June 1.
The country’s consumer price index was slightly up from the previous month’s 1.9 percent rise, according to the data compiled by Statistics Korea.
Consumer prices have been hovering around 2 percent since the first month of 2017 due to a sharp gain in oil prices, following a 1.3 percent on-year gain in December last year. From a month earlier, the index edged up 0.1 percent in May.
Core inflation, which excludes volatile oil and food prices, increased 1.5 percent in May compared with last year.
By Alex Lee and newswires (alexlee@heraldcorp.com)
The country’s consumer price index was slightly up from the previous month’s 1.9 percent rise, according to the data compiled by Statistics Korea.
Consumer prices have been hovering around 2 percent since the first month of 2017 due to a sharp gain in oil prices, following a 1.3 percent on-year gain in December last year. From a month earlier, the index edged up 0.1 percent in May.
Core inflation, which excludes volatile oil and food prices, increased 1.5 percent in May compared with last year.
By Alex Lee and newswires (alexlee@heraldcorp.com)
