SEOUL, May 6 (Xinhua) -- South Korea's consumer price inflation hit the highest in 21 months due to a fast increase in oil product prices, driven by the Middle East tensions, statistical ministry data showed Wednesday.
The consumer price index (CPI) gained 2.6 percent in April from a year earlier, marking the fastest growth since July 2024, according to the Ministry of Data and Statistics.
The headline inflation stayed above the central bank's mid-term inflation target of 2 percent for an eighth successive month since September 2025.
Price for industrial products, including oil products and processed food, advanced 3.8 percent in April compared to the same month of last year, higher than an expansion of 2.7 percent in the previous month.
Oil products' price soared 21.9 percent last month, raising the overall inflation by 0.84 percentage points. It was the fastest in almost four years since July 2022.
Prices for gasoline and diesel surged 21.1 percent and 30.8 percent each, but price for liquefied petroleum gas (LPG) for vehicles retreated 3.5 percent.
Processed food prices added 1.0 percent in April from a year earlier, slower than a gain of 1.6 percent in the previous month.
Prices for agricultural, livestock and fishery products fell 0.5 percent in April from a year earlier, keeping a downward trend for a second consecutive month.
Agricultural products price tumbled 5.2 percent, pulling down the overall inflation by 0.22 percentage points. Prices for livestock and fishery products grew 5.5 percent and 4.0 percent, respectively.
Rice price spiked 14.4 percent, but those for napa cabbage, onion, white radish, pear, carrot and tomato posted a double-digit reduction.
Prices for pork, beef, egg and mackerel expanded in single figures.
The price for electricity, natural gas and tap water was up 0.2 percent in April on a yearly basis.
City gas charge, heating cost and waterworks fee added in single digits, but the electricity bill fell 0.4 percent.
Service prices gained 2.4 percent last month, lifting the headline inflation by 1.33 percentage points.
Public service price rose 1.4 percent, while private service price, including eating-out cost, mounted 3.2 percent.
The eating-out expense expanded 2.6 percent, and the private service price excluding the dining-out cost advanced 3.5 percent.
Housing rent, including Jeonse and monthly rent, was up 1.0 percent in April from a year earlier.
Jeonse is South Korea's unique contract between two households where a landlord grants the two-year residential right to a tenant, who in turn lends a certain amount of money, or a deposit, to the landlord.
The livelihood items index, which gauges price for daily necessities, climbed 2.9 percent, while the fresh food index, which measures price for fish, shellfish, fruit and vegetables, dropped 6.1 percent.
Demand-side inflationary pressure lingered. Core consumer price index, which excludes volatile agricultural and oil products, appreciated 2.2 percent last month.
The OECD-method core price, excluding volatile energy and food costs, picked up 2.2 percent in the cited month. ■
