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. Egg prices have surged 70 percent.
An unprecedented synchronized spike in energy prices is causing an inflationary scare around the world ahead of the winter peak season. The price of the West Texas Intermediate, the American standard crude, leapt to near $78 per...
Consumer prices in September grew 2.5 percent. With international fuel prices rising, consumer prices this year are expected to rise above an earlier government forecast of 1.8 percent for 2021.
Utility prices will be kept in check this year in order to help contain inflation, Vice Finance Minister Lee Eog-weon said.
Recent hikes in the prices of electricity, milk and possibly in gas and public transportation are likely to fuel inflation by the end of this year. Electricity prices rose recently for the first time in eight years and it looks like other ...
Consumer prices rose 2.6 percent in August compared to the same period a year ago, according to Statistics Korea on Thursday. August was the fifth consecutive month in which consumer prices rose more than 2 percent.
Consumer prices rose 2.6 percent in May, the fastest pace in nine years, adding to concerns about inflation in the wake of the pandemic.
According to Statistics Korea on Tuesday, consumer prices in April rose 2.3 percent year-on-year, the sharpest increase since August 2017's 2.5 percent.
Park Sun-mee, a 41-year-old resident of Jayang-dong, eastern Seoul, uneasily picked up a carton of eggs at her local Emart last weekend.
Korea's consumer prices grew at a faster pace in November than a month earlier as prices of agricultural products and service charges went up, data showed Wednesday.