Processed food leads steepest inflation rate climb in 5 months

Consumer prices in South Korea climbed back to the two percent range in June marking the fastest pace in five months.

According to the data released by Statistics Korea, consumer prices in June increased by 2-point-2 percent year-on-year.

This was led by processed food prices jumping four-point-six percent for the sharpest increase since late 2023.

Bread, coffee, and ham led the gains while the price of ramyeon surged nearly seven percent.

Seafood prices also saw a notable climb up seven-point-four percent with officials pointing to global warming and unstable marine conditions.

Meanwhile, oil prices edged up zero-point-three percent reflecting geopolitical tensions in the Middle East.