On the afternoon of the 2nd, citizens are shopping at a supermarket in Seoul. Newsis
Consumer prices rose 1.1% last month, recording the highest growth rate in a year. This is the effect of the biggest jump in agricultural and fishery prices in 10 years due to sluggish agricultural production and highly pathogenic avian influenza (AI). The rise in rent was also noticeable due to the real estate crisis.
According to the consumer price trend of the National Statistical Office on the 4th, the consumer price index for February was 107.00 (2015 = 100), up 1.1% from the same month last year. It is the highest rate of increase since February last year (1.1%). The rate of increase in consumer inflation remained at the 0% level for 4 consecutive months from October last year to January this year, and then again exceeded the 1% level.
Agricultural and aquatic products rose 16.2%, raising overall prices by 1.26 percentage points. The inflation rate for agricultural and marine products was the highest in 10 years since February 2011 (17.1%). In particular, agricultural product prices rose 21.3% in one year, recording the highest increase since January 2011 (24.0%).
Specifically, the price of green onions jumped by 227.5% due to sluggish cropping due to worsening weather conditions. This means that the price of green onions has become more than three times higher than in February of last year. Apples also increased by 55.2%, and red pepper powder (35.0%) and rice (12.9%) also increased significantly. In addition, egg prices rose 41.7%, and livestock products also rose 14.4%, the highest since June 2011 (16.1%).
The situation of the jeonse crisis was also confirmed in the price index. The combined rent for jeon and monthly rent rose 0.9% in one year, the highest increase since March 2018 (0.9%). Jeonse and monthly rent increase rates were 1.2% and 0.5%, respectively. In particular, in the case of monthly rent, it showed the highest increase in 6 years and 2 months since December 2014 (0.5%).
However, the index (root price) excluding agricultural products and petroleum, which shows the key trend of inflation, rose 0.8%, showing an increase of 0% for three consecutive months. “The rise in agricultural and livestock products and service prices increased,” said the National Statistical Office’s Economic Trend Statistics Officer. No,” he said.
Sejong= Youngha Son reporter [email protected]
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