February Consumer Price Rose 3.6%

The Korea National Statistical Office announced yesterday that the consumer price index increased 3.6 percent from a year ago in February this year. Compared to January, it fell 0.3 percentage point from 3.9 percent. However, the monthly inflation rate has stayed above 3 percent for five months in a row since last October.

Also, February consumer prices increased 0.4 percent from January. By product, pimiento prices increased 24.3 percent, followed by administrative services (19.5 percent), pumpkins (15.6 percent) and potatoes (14.6 percent).

Heo Jin-ho, in charge of commodity price statistics at the NSO, said, “The February consumer price growth rate was lower than expected since commodity prices were also high in February 2007. The March figure, he said, is likely to reflect price hikes in college tuition fees and instant noodles.

tesomiom@donga.com