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S. Korea’s consumer price growth hits 13-month high in October

October 31, 2018

SEJONG, Nov. 1 (Yonhap) — South Korea’s consumer price growth accelerated in October, hitting the highest in 13 months, on a sharp rise in prices for agricultural goods and oil-related products, government data showed Thursday.

The country’s consumer price index climbed 2 percent last month from a year earlier, moving up from the previous month’s 1.9 percent on-year gain, according to the data compiled by Statistics Korea.

The reading marks the highest since September 2017, when the comparable figure was 2.1 percent.

From a month earlier, the index fell 0.2 percent.

Core inflation, which excludes volatile oil and food prices, rose 1.1 percent on-year.