URL is copied.
(ATTN: ADDS more info from para 4)
SEOUL, May 6 (Yonhap) -- South Korea's consumer prices rose at the fastest pace in 21 months in April, driven by soaring fuel costs, government data showed Wednesday.
Consumer prices, a key gauge of inflation, increased 2.6 percent from a year earlier last month, according to the data from the Ministry of Data and Statistics. It marks the largest on-year increase since July 2024, when inflation climbed 2.6 percent.
The latest rise was driven by a surge in the price of petroleum products, which jumped 21.9 percent from a year earlier, marking the sharpest increase since July 2022.
A gas station in Seoul on April 19, 2026 (Yonhap)
Notably, diesel and gasoline prices jumped 30.8 percent and 21.1 percent on-year, respectively. They also mark the sharpest on-year increase since July 2022.
Global oil prices have risen sharply as the Strait of Hormuz has effectively been closed since U.S.-Israeli strikes on Iran in late February, disrupting global oil supplies. South Korea relies heavily on imports to meet its energy needs.
Accordingly, prices of industrial products rose 3.8 percent, marking the fastest growth since February 2023, when they increased 4.8 percent.
Service prices also increased 2.4 percent from a year earlier, driven by higher insurance costs.
Prices of agricultural, livestock and fishery products, on the other hand, edged down 0.5 percent, marking the second consecutive monthly decline.
Core inflation, which excludes volatile food and energy prices, rose 2.2 percent on-year last month, the ministry said.
khj@yna.co.kr
(END)