SEOUL, Dec. 5 (Xinhua) -- South Korea's consumer price growth hovered above 3 percent for the fourth consecutive month due to a surge in agricultural products price that offset lower oil products price, statistical office data showed Tuesday.
The consumer price index (CPI) stood at 112.74 in November, up 3.3 percent from a year ago, according to Statistics Korea.
After hitting a bottom at 2.3 percent in July, the consumer price inflation accelerated to 3.4 percent in August, 3.7 percent in September and 3.8 percent in October before slowing to 3.3 percent in November.
Last month's inflation stayed above 3 percent on the back of the expensive agricultural products.
Price for agricultural, livestock and fishery products gained 6.6 percent in November from a year earlier after going up 7.3 percent in the previous month.
Agricultural products price jumped 13.6 percent last month, marking the fastest in two and a half years since May 2021. It raised the overall headline inflation by 0.57 percentage points.
Livestock products price declined 1.3 percent, but fishery products price rose 1.8 percent.
Oil products price retreated 5.1 percent in November year on year, dragging down the overall inflation by 0.25 percentage points.
Gasoline price climbed 2.4 percent, but prices for diesel and kerosene tumbled 13.1 percent and 10.4 percent each.
Price for industrial products, including oil products, was up 2.4 percent in November from a year earlier after picking up 3.5 percent in the previous month.
Processed food price gained 5.1 percent in November, higher than an increase of 4.9 percent in the previous month.
Price for electricity, natural gas and tap water advanced 9.6 percent last month, unchanged compared with the prior month.
Electricity bill surged 14.0 percent, while city gas and water utility charges grew 5.6 percent and 4.6 percent each.
Private services price, including eating-out cost, increased 4.2 percent in November from a year ago after rising 4.1 percent in October. Public services price added 2.2 percent last month.
Expense for dining out climbed 4.8 percent, while the private services price excluding the eating-out expense picked up 3.7 percent.
Housing rent, including Jeonse and monthly rent, was unchanged in November compared with the same month of last year.
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 deposit, to the landlord.
The livelihood items index, which gauges price for daily necessities, expanded 4.0 percent in November on a yearly basis.
The fresh food index, which measures the price of fish, shellfish, fruit and vegetable, soared 12.7 percent last month.
Demand-side inflationary pressure hovered high. The core consumer price index, which excludes volatile agricultural and oil products, went up 3.3 percent in November, being equivalent to the headline inflation of 3.3 percent.
The OECD-method core price, excluding volatile energy and food costs, was up 3.0 percent last month.
The country's headline inflation still topped the Bank of Korea (BOK)'s mid-term target of 2 percent for 32 months in a row. ■