Korean consumer prices rise 2.4% in November

emirates7 - The Republic of Korea's consumer prices grew over the Bank of Korea's 2 percent target for the third consecutive month in November, largely due to sharp increases in agricultural and petroleum product prices, government data showed Tuesday.

Consumer prices, a key gauge of inflation, increased 2.4 percent from a year earlier last month, according to the data from the Ministry of Data and Statistics.

In 2025, inflation had remained above 2 percent for four consecutive months through April before slowing to 1.9 percent in May, reported Yonhap News Agnecy.

It later rose above 2 percent in both June and July before briefly slowing to 1.7 percent in August and again rising over 2 percent in September and October.

Core inflation, which excludes volatile food and energy prices, rose 2.9 percent on-year in November, the ministry said. It marks the highest increase since July of last year, when it increased 3 percent on-year.