Seoul [South Korea], November 3: South Korea's consumer prices rose 2.8% in October from a year earlier, data showed Tuesday, as agricultural product prices continued to decline despite energy costs remaining elevated.
According to data from the Ministry of Data and Statistics, carried by Yonhap, consumer price growth eased to 2.8% in October from 2.9% in September and 3.1 percent in August.
In October, diesel prices jumped 19.7% on-year, while gasoline prices increased a sharp 11.6%.
South Korea relies heavily on imports to meet its energy needs.
Prices of agricultural, livestock and fishery products, on the other hand, fell 1.7% over the same period, the findings showed.
Core inflation, which excludes volatile food and energy prices, stood at 2.8% on-year in October.
Source: Emirates News Agency