Overview
- The Consumer Price Index rose 2.9% year-on-year in September, down from 3.1% in August and matching the median Reuters poll forecast.
- Monthly CPI increased 0.3% in September, a slight pickup from August's 0.2% gain that shows price pressure has not fully disappeared.
- The finance ministry said price caps on domestic petroleum and targeted Chuseok food supports helped pull headline inflation lower.
- Sector data show a split: agricultural, livestock and fisheries prices fell 0.3% year-on-year, while industrial product prices rose 4.2% led by an 11.8% jump in petroleum and a 20.0% surge in diesel.
- Officials warned import-linked costs and steep rises in fuel and transport prices keep upward pressure on consumer prices and could slow further disinflation.