Consumer prices in South Korea increased by 2.6 percent year-over-year in July, according to Statistics Korea's report on Friday. This rate exceeded the anticipated 2.5 percent and was higher than June's 2.4 percent.
When adjusted for seasonal variations, consumer prices rose by 0.3 percent month-over-month, which matched predictions, following a 0.2 percent decrease in the previous month.
Specifically, prices for food and non-food products climbed by 3.4 percent and 2.7 percent year-over-year, respectively.
Excluding agricultural and petroleum products, prices saw a monthly increase of 0.1 percent and a yearly uptick of 2.1 percent.
