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3d ago

South Korea's Inflation Holds Steady at 2.1% in April as Food and Service Costs Climb

Consumer prices have remained above 2 percent for four consecutive months, with core inflation surpassing 2 percent for the first time in seven months.

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People shop at a major discount chain store in Seoul, in this April 13, 2025, file photo. (Yonhap)

Overview

  • April 2025 marked the fourth straight month of inflation above 2 percent, with consumer prices rising 2.1 percent year-on-year.
  • Processed food prices surged 4.1 percent, driven by a weak Korean won increasing import costs for ingredients.
  • Core inflation, which excludes volatile food and energy prices, grew 2.1 percent year-on-year, its highest level in seven months.
  • Utility costs rose 3.1 percent, while service costs increased 2.4 percent, reflecting persistent domestic price pressures.
  • Petroleum prices fell 1.7 percent due to declining global oil prices, contrasting with rising costs in other sectors.