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S. Korea's consumer prices grow at faster pace in Nov.

Finance 08:01 December 02, 2020

SEOUL, Dec. 2 (Yonhap) -- South Korea's consumer prices grew at a faster pace in November than a month earlier as prices of agricultural products and service charges went up, data showed Wednesday.

The consumer price index rose 0.6 percent on-year last month, compared with a 0.1 percent on-year gain in the previous month, according to the data by Statistics Korea.

In October, the country's inflation rate grew at the slowest pace in four months due to state subsidies for mobile phone bills.

Compared with a month earlier, the country's consumer inflation declined 0.1 percent last month following a 0.6 percent on-month fall in October.

Core inflation, which excluded volatile food and oil prices, gained 0.6 percent on-year in November, a turnaround from a 0.3 percent on-year fall in October.

Prices of agricultural, livestock and fisheries products jumped 11.1 percent last month from a year earlier, while service charges rose 0.4 percent on-year.

The country's inflationary pressure has remained low this year due mainly to a decline in low oil prices and the fallout from the new coronavirus outbreak.

This file photo, taken Oct. 6, 2020, shows a citizen shopping for groceries at a discount store in Seoul. (Yonhap)

sooyeon@yna.co.kr
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