S. Korea's consumer prices rise to highest in 30 months in June

SEOUL, (UrduPoint / Pakistan Point News / WAM - 02nd Jul, 2026) South Korea's consumer prices rose more than 3% from a year earlier for two straight months in June, reflecting the lingering impact of the middle East war on supply chains and oil prices, data showed Thursday.

Consumer prices, a key gauge of inflation, increased 3.2% last month from a year earlier, according to data from the Ministry of Data and Statistics.

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It marked the sharpest increase since December 2023, when the figure was at the same level.

Prices of industrial products rose 4.4%, driven largely by higher fuel prices, YONHAP reported, citing government data.

The data ministry said fuel prices shot up 24.7%, contributing 0.93 percentage point of the overall increase in consumer prices. It was the sharpest growth since 35.2% posted in July 2022.

In detail, gasoline prices rose 23.1% and diesel prices jumped 33.7%. South Korea relies heavily on imports to meet its energy needs.