Due to Rising International Oil Prices... July Consumer Prices Increase by 3%, Largest Rise This Year

[Asia Economy Honam Reporting Headquarters, Reporter Park Jin-hyung] Consumer prices have risen the most in July this year.

According to the consumer price trends in the Gwangju-Jeonnam region announced by the Honam Regional Statistics Office on the 3rd, the consumer price index this month recorded 107.38 (2015=100), a 3% increase compared to the same month last year.

Compared to the same month last year, the increase rate remained at the 1% level from January to March, exceeded 2% from April, and reached 3% this month.

Among the detailed items of consumer prices, prices of agricultural, livestock, and fishery products sharply increased by 12.1% compared to a year ago, while industrial products and services rose by 2.8% and 1.9%, respectively, based on the same criteria.

The living cost index, which reflects perceived inflation focusing on 141 items with high purchase frequency and expenditure share, rose by 4.1% compared to last year. Spinach (32.2%), lettuce (18.8%), green chili peppers (12.1%), and radish (11.5%) showed noticeable double-digit increases.

The fresh food index recorded a 12% increase as fruit prices surged. Major items include bananas (23.2%), watermelons (13.4%), and Korean melons (15.6%), which rose significantly.

The consumer price index in the Jeonnam region was 108.43, up 3.2% from a year ago, with the living cost index and fresh food index rising by 4.3% and 8.1%, respectively.

A representative from the Honam Regional Statistics Office explained, "Overall prices rose significantly as oil prices, a factor that increases inflationary pressure, went up."

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