SEOUL, May 2 (Xinhua) -- South Korea's consumer price rise slowed to below 3 percent in April despite the still high price for farm goods, statistical office data showed Thursday.
The consumer price index (CPI) gained 2.9 percent in April from a year earlier after staying above 3 percent in the previous two months, according to Statistics Korea.
The headline inflation continued to top the Bank of Korea (BOK)'s mid-term inflation target of 2 percent. The BOK had left its benchmark interest rate unchanged at 3.50 percent since January last year.
Price for agricultural, livestock and fishery products surged 10.6 percent in April on a yearly basis, lifting the overall inflation by 0.77 percentage points.
Agricultural products price soared 20.3 percent last month, hovering above 20 percent for three months in a row.
Apple price skyrocketed 80.8 percent, with pear price more than doubling in the month. Prices for tomato and napa cabbage advanced in double figures.
Prices for livestock and fishery products added 0.3 percent and 0.4 percent, respectively.
Oil products price rose 1.3 percent in April from a year earlier after going up 1.2 percent in the previous month.
Price for industrial products, including oil products, swelled 2.2 percent last month, raising the headline inflation by 0.74 percentage points.
The processed food price picked up 1.6 percent in April after climbing 1.4 percent in the prior month.
Price for electricity, natural gas and tap water mounted 4.9 percent in the month, pulling up the overall inflation by 0.19 percentage points.
Electricity bill increased 4.3 percent, with city gas and heating costs going up 5.6 percent and 12.1 percent, respectively.
Private service price, including eating-out cost, spiked 2.8 percent last month, while public service price added 2.2 percent.
The eating-out expense gained 3.0 percent, drawing up inflation by 0.42 percentage points.
Housing rent, including Jeonse and monthly rent, stood unchanged in April from a year earlier.
Jeonse is South Korea's unique contract between two households where a landlord grants a two-year residential right to a tenant, who in turn lends a certain amount of money, or deposit, to the landlord.
The livelihood items index, which gauges the price for daily necessities, was up 3.5 percent in April after expanding 3.8 percent in the previous month.
The fresh food index, which measures the price of fish, shellfish, fruit and vegetables, surged 19.1 percent last month, keeping a double-digit growth for the seventh consecutive month.
Demand-side inflationary pressure remained relatively low. The core consumer price index, which excludes volatile agricultural and oil products, climbed 2.2 percent last month.
The OECD-method core price, excluding volatile energy and food costs, increased 2.3 percent. ■
