S. Korea's consumer prices up 2.2% y/y in Jan., marking three months of rising inflation

Inflation in South Korea rose back into the two percent range for the first time in five months, spurred by rising oil prices.

Data from Statistics Korea on Wednesday showed that the country's consumer price index rose two-point-two percent in January compared to the same month the year before.

January marks the third month in which consumer prices have seen a year-on-year rise after inflation dropped to one-point-three percent last October.

Notably, prices of petroleum products jumped by more than seven percent – marking the highest rise since July last year.