Seoul, June 02 (QNA) - South Korea's consumer prices rose more than 3 percent in May from a year earlier.
Consumer prices, a key gauge of inflation, increased 3.1 percent last month from a year earlier, marking their highest growth in 26 months, South Korea's Ministry of Data and Statistics said.
Prices of industrial products rose 4.2 percent, driven largely by higher fuel prices. Petroleum product prices shot up 24.2 percent, accounting for 0.92 percentage point of the overall consumer price increase.
Prices of agricultural and fishery goods went up 2.2 percent. Service prices increased 2.8 percent from a year earlier, driven by higher insurance costs. Airline ticket prices jumped 33.5 percent due to higher fuel surcharges.
Core inflation, which excludes volatile food and energy prices, advanced 2.5 percent on-year last month, the data showed, marking the highest level since February 2024. (QNA)