S. Korea’s consumer prices growth hits 5-yr high in March

April 3, 2017

SEJONG, April 4 (Yonhap) — South Korea’s consumer prices shot up at the fastest clip in nearly five years in March on a sharp rise in gas prices, government data showed Tuesday.

The country’s consumer price index gained 2.2 percent last month from a year earlier, accelerating from the previous month’s 1.9 percent rise, according to the data compiled by Statistics Korea.

The March number marked the highest on-year gain since June 2012.

From a month earlier, the index stayed unchanged at 102.79 in March, with it set at 100 in 2015.

Core inflation, which excludes volatile oil and food prices, increased 1.7 percent compared with last year.