SEOUL, Dec. 31 (Xinhua) -- South Korea's consumer price inflation hovered above 2 percent for the fourth successive month amid the local currency's depreciation versus the U.S. dollar, statistical ministry data showed Wednesday.
Consumer price index (CPI) rose 2.3 percent in December from a year earlier, after gaining 2.1 percent in September, 2.4 percent in October and 2.4 percent in November, according to the Ministry of Data and Statistics.
The headline inflation stayed above the central bank's mid-term inflation target of 2 percent in recent months.
The high inflation was attributable to a rapid rise in the South Korean won versus the U.S. dollar exchange rate that led to a significant increase in oil products and some imported foodstuffs.
The exchange rate surged to 1,470.6 won per dollar at the end of November from 1,424.4 won a month earlier. The rate stayed above 1,440 won despite the foreign exchange authorities' efforts to raise the value of the local currency.
The price for industrial products, including oil products and processed food, swelled 2.2 percent in December compared to the same month of last year, slightly lower than the growth of 2.3 percent in the previous month.
Oil products' prices spiked 6.1 percent in December on a yearly basis after going up 5.9 percent in November. The price of gasoline and diesel soared 5.7 percent and 10.8 percent, each.
Processed food prices climbed 2.5 percent, raising the overall inflation by 0.22 percentage points.
The price for agricultural, livestock and fishery products rose 4.1 percent in December, lower than an expansion of 5.6 percent in the previous month.
Agricultural products price increased 2.9 percent, with those for livestock and fishery products picking up 5.1 percent and 6.2 percent each.
The price for rice, apple, tangerine and mackerel jumped in double digits, while the price for pork, beef and imported beef went up in single figures.
The price for tomato, white radish, carrot, pear, cucumber and zucchini recorded a double-digit fall this month.
The price for electricity, natural gas and tap water inched up 0.4 percent in December on a yearly basis.
City gas charges, heating costs and waterworks fees went up in single digits, but the electricity bill was down 0.4 percent.
Service prices gained 2.3 percent this month, lifting the inflation by 1.24 percentage points. Public service prices grew 1.4 percent.
Private service prices, including eating-out costs, increased 2.9 percent this month, lower than the growth of 3.0 percent in the previous month.
The eating-out expense expanded 2.9 percent, and the private service price excluding the dining-out cost advanced 2.9 percent.
Housing rent, including Jeonse and monthly rent, was up 0.9 percent in December from a year earlier.
Jeonse is South Korea's unique contract between two households where a landlord grants the two-year residential right to a tenant, who in turn lends a certain amount of money, or a deposit, to the landlord.
The livelihood items index, which gauges price for daily necessities, rose 2.8 percent in December on a yearly basis, while the fresh food index, which measures price for fish, shellfish, fruit and vegetables, gained 1.8 percent.
Demand-side inflationary pressure lingered. Core consumer price index, which excludes volatile agricultural and oil products, appreciated 2.3 percent this month.
The OECD-method core price, excluding volatile energy and food costs, picked up 2.0 percent in the cited month.
Meanwhile, the consumer price index was up 2.1 percent in 2025 compared to the previous year, marking the lowest since 2020 when the index rose 0.5 percent. ■
