January Inflation Rate: Jeonnam 2.3%, Gwangju 2.2%

Gwangju and Jeonnam See Consumer Price Inflation in the 2 Percent Range
Living Price Index and Fresh Food Index Show Mixed Trends by Region

The consumer price inflation rates in Gwangju and Jeonnam each recorded in the 2% range.

According to the "Consumer Price Trends for January" released by the Honam Regional Statistics Office on the 5th, last month’s consumer price index in Gwangju rose by 2.2% compared to a year ago.

The living price index, which reflects perceived inflation based on 144 items with high purchase frequency and expenditure share, also increased by 2.4% year-on-year.

By item, insurance service fees (9.0%), insurance service fees (14.7%), and city gas (6.5%) saw increases.

January Gwangju Consumer Price Trends. Provided by Honam Regional Statistics Office

The fresh food index, which reflects price fluctuations of 55 items such as fish, seafood, vegetables, and fruits that are highly affected by weather and season, fell by 0.8% year-on-year. By item, squid (-12.4%), crab (-11.3%), abalone (-10.7%), and apple (-10.9%) led the decline.

By purpose of expenditure, goods and services (4.1%) and food and lodging (3.3%) rose, resulting in a 2.2% year-on-year increase.

By item characteristic, for goods, agricultural, livestock, and fishery products (0.5%) and electricity, gas, and water (3.0%) increased, leading to a 1.9% year-on-year rise. For services, personal services (3.4%) and public services (0.9%) rose, resulting in a 2.4% year-on-year increase.

January Jeonnam Consumer Price Trends. Provided by Honam Regional Statistics Office

The consumer price index in Jeonnam rose by 2.3% compared to a year ago.

The living price index also increased by 2.8% year-on-year. By item, gasoline (8.1%), insurance service fees (14.7%), and city gas (6.3%) saw increases.

The fresh food index rose by 1.0% year-on-year. By item, hairtail (15.0%), squid (8.9%), and shrimp (6.8%) led the increase.

By purpose of expenditure, goods and services (5.0%) and food and lodging (3.2%) rose, resulting in a 2.3% year-on-year increase.

By item characteristic, for goods, agricultural, livestock, and fishery products (2.0%) and electricity, gas, and water (2.0%) increased, leading to a 2.1% year-on-year rise. For services, rent (0.4%) and public services (1.3%) rose, resulting in a 2.5% year-on-year increase.

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