SEOUL, (Pakistan Point News - 02nd Jul, 2026) South Korea's consumer prices rose more than 3% from a year earlier for two straight months in June, reflecting the lingering impact of the middle East war on supply chains and oil prices, data showed Thursday.
Consumer prices, a key gauge of inflation, increased 3.2% last month from a year earlier, according to data from the Ministry of Data and Statistics. It marked the sharpest increase since December 2023, when the figure was at the same level.
Prices of industrial products rose 4.4%, driven largely by higher fuel prices, YONHAP reported, citing government data.
The data ministry said fuel prices shot up 24.7%, contributing 0.93 percentage point of the overall increase in consumer prices. It was the sharpest growth since 35.2% posted in July 2022.
In detail, gasoline prices rose 23.1% and diesel prices jumped 33.7%. South Korea relies heavily on imports to meet its energy needs.
