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Korea's consumer prices show signs of stabilizing

3h ago
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4월 소비자물가 작년보다 1.0%올라... 석달째 1%대 상승 South Korea's consumer prices are showing signs of stabilizing,... growing in the one-percent range for a third straight month in April. While the numbers still remain below the central bank's target,... the prices of items related to daily life have soared. Hwang Ji-hye has the up to date digits. Statistics Korea says... consumer prices rose one percent last month from a year ago. This marks the third straight month of an increase in the one-percent range -- a stark contrast from last year, when price growth remained in the zero-percent range except for the last two months. The rise comes despite low global oil prices that dragged prices down overall by about half-a-percentage point,... as prices of agricultural and fisheries products jumped. The prices of farm produce that are closely related to people's daily lives rose five-and-a-half percent in April from the previous year. Service prices,... which includes housing rental fees, also rose two-point-two percent. So while items from the demand side that make people feel like prices are running high led the overall rise, it was the plunging oil prices from the supply side that kept the prices still well below the central bank's new target of two percent. The finance ministry says,... though,... the country's core inflation rate,... which excludes volatile agricultural and petroleum products,... rose one-point-8 percent. The ministry adds... the downside pressure on inflation will let up down the road,... as global oil prices will gradually pick up pace. Hwang Ji-hye, Arirang News. Visit ‘Arirang News’ Official Pages Facebook(NEWS): http://www.facebook.com/newsarirang Homepage: http://www.arirang.com Facebook: http://www.facebook.com/arirangtv Twitter: http://twitter.com/arirangworld Instagram: http://instagram.com/arirangworld