Consumer prices up 3.1% in August amid high oil prices
Shoppers purchase groceries at a supermarket in Seoul, Sunday. Yonhap
By Yonhap
Korea's consumer prices moved up 3.1 percent in August from a year earlier as oil prices remained elevated.
According to data from the Ministry of Data and Statistics, consumer price growth hovered above 3 percent in August, accelerating from a 2.8 percent on-year rise in July.
The August increase was led by fuel prices, with diesel prices rising sharply by 19.6 percent and gasoline prices advancing 11.5 percent.
Korea relies heavily on imports to meet its energy needs.