April 20, 2024

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South Korea’s consumer prices rose 0.2 percent on-year in November, marking the first gain in four months, the statistics agency said Dec. 2.

The consumer price index stood at 104.87 in November, compared with 104.71 for the same month last year, Statistics Korea said in a statement.

The November reading was followed by zero growth in October and the first negative inflation rate in September that sparked fears of deflation.

The country’s inflation fell 0.6 percent on-month last month, due to declines in agricultural prices and service charges, Statistics Korea said in a statement.

Core inflation, which excludes agricultural and petroleum products, rose 0.6 percent from a year earlier.

Utility prices rose 1.5 percent on-year last month, while prices of agricultural, livestock and fisheries products fell 2.7 percent, the data showed.

By Ram Garikipati and newswires (ram@heraldcorp.com)