Gwangju and South Jeolla Consumer Prices See Biggest Rise in 15 Months

October Inflation Rates Reach 2.3% and 2.4% Respectively
Rise Continues in Rice, Apples, Insurance Premiums, and Diesel

In October, consumer prices in Gwangju and South Jeolla Province both rose to the mid-2% range, marking the highest rate of increase in 15 months. The rise in prices of agricultural products such as rice and apples, as well as diesel and insurance premiums, contributed to the upward trend in inflation.

According to the "October Consumer Price Trends" released by the Honam Regional Statistics Office on November 4, the consumer price index in Gwangju stood at 117.54 (2020=100), up 2.3% from the same month last year. This is the highest rate of increase since July last year (2.8%), a span of 15 months. Compared to the previous month, the index rose by 0.3%. Goods prices increased by 0.1%, while service prices rose by 0.5%.

Compared to last year, goods prices increased by 1.9% and service prices by 2.6%. The living price index rose by 2.2% year-on-year and remained unchanged from the previous month. By purpose of expenditure, the largest increases were seen in other goods and services (4.0%), food and accommodation (3.4%), transportation (3.1%), and education (2.4%). By item, tangerines (30.1%), apples (23.6%), rice (21.7%), diesel (9.3%), gasoline (5.2%), and insurance service fees (16.3%) all rose, while radishes (-46.7%), napa cabbage (-29.9%), and cooking oil (-18.4%) decreased.

The consumer price index in South Jeolla Province was 118.38, up 2.4% from the same month last year and 0.3% from the previous month. Compared to last year, goods prices increased by 2.2% and service prices by 2.5%. The living price index rose by 2.3% year-on-year and remained unchanged from the previous month.

In South Jeolla Province, the largest increases by purpose of expenditure were in other goods and services (5.0%), transportation (3.9%), food and non-alcoholic beverages (3.1%), food and accommodation (2.6%), household goods and domestic services (2.3%), and clothing and footwear (2.1%). By item, apples (20.1%), rice (13.7%), bread (6.1%), diesel (8.3%), gasoline (4.4%), and insurance service fees (16.3%) increased, while tomatoes (-36.4%), lettuce (-29.8%), napa cabbage (-29.0%), cooking oil (-15.6%), and kindergarten tuition (-23.3%) decreased.

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