Consumer Prices Rise 1.5% in January This Year... Highest Since November 2018 (Update)

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[Sejong=Asia Economy reporters Kim Hyunjung and Joo Sangdon] The consumer price index recorded a 1% range increase in January this year.

According to the 'January 2020 Consumer Price Trends' announced by Statistics Korea on the 4th, consumer prices rose 1.5% compared to the same period last year. This is the first time in 13 months to record a 1% range since December 2018, which recorded 1.3%. The previous highest increase rate was 2.0% recorded in November 2018.

The core inflation rate, which excludes price fluctuations due to seasonal factors or temporary shocks, called the 'Petroleum and Agricultural Products Excluded Index (Core Inflation),' rose 0.9% compared to the same month last year. The OECD standard core inflation, the 'Food and Energy Excluded Index,' increased by 0.8%.

The 'Living Cost Index,' compiled from 141 items with high purchase frequency and expenditure share that are sensitive to price changes, jumped 2.1% compared to the same month last year. The 'Fresh Food Index,' compiled from 50 items with large price fluctuations depending on weather conditions, also surged 4.1%.

The 'Owner-Occupied Housing Cost Included Index,' which includes service costs incurred while using owner-occupied housing in the consumer price, rose 1.2% compared to one year ago.

This content was produced with the assistance of AI translation services.