Inflation factor

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Inflation factor

 
Shoppers pick out fruit at a grocery store in Seoul on Tuesday. Recently, there have been growing concerns about inflation as consumer prices have been rising rapidly. According to the Korea National Council of Consumer Organizations, the average price of 29 necessity goods increased 6.8 percent in the third quarter compared to the same period a year earlier. In the case of eggs, prices have surged 70 percent. Tofu prices rose 16.5 percent, ham 11.3 percent and cooking oil 11.2 percent. Inflation is surfacing as the biggest risk to economic growth as consumers are likely to tighten their spending. [YONHAP]

Shoppers pick out fruit at a grocery store in Seoul on Tuesday. Recently, there have been growing concerns about inflation as consumer prices have been rising rapidly. According to the Korea National Council of Consumer Organizations, the average price of 29 necessity goods increased 6.8 percent in the third quarter compared to the same period a year earlier. In the case of eggs, prices have surged 70 percent. Tofu prices rose 16.5 percent, ham 11.3 percent and cooking oil 11.2 percent. Inflation is surfacing as the biggest risk to economic growth as consumers are likely to tighten their spending. [YONHAP]

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