SEOUL, Feb. 3 (Xinhua) -- South Korea's consumer price logged the lowest growth in five months due to lower price increase for farm goods and oil products, statistical ministry data showed Tuesday.
The consumer price index (CPI) rose 2.0 percent in January from a year earlier, marking the lowest expansion since September last year, according to the Ministry of Data and Statistics.
The headline inflation stayed above the central bank's mid-term inflation target of 2 percent in recent months, with 2.1 percent in September, 2.4 percent in October, 2.4 percent in November and 2.3 percent in December last year.
The slower inflation in January was attributable to a slower price hike in farm goods and oil products.
Price for industrial products, including oil products and processed food, gained 1.7 percent in January compared to the same month of last year, lower than the growth of 2.2 percent in the previous month.
Oil products' price was unchanged in January on a yearly basis after spiking 6.1 percent in the previous month. The price of gasoline inched down 0.5 percent, while diesel price climbed 2.2 percent.
Processed food price swelled 2.8 percent, raising the overall inflation by 0.24 percentage points.
Price for agricultural, livestock and fishery products mounted 2.6 percent in January from a year ago, lower than an expansion of 4.1 percent in the previous month.
Agricultural products price edged up 0.9 percent, with those for livestock and fishery products going up 4.1 percent and 5.9 percent each.
Price for rice, apple and mackerel jumped in double digits, while price for pork, beef and imported beef went up in single figures.
Price for white radish, carrot, pear and napa cabbage recorded a double-digit fall last month.
Price for electricity, natural gas and tap water was up 0.2 percent in January on a yearly basis.
City gas charges, heating costs and waterworks fees picked up in single digits, but the electricity bill was down 0.4 percent.
Service prices gained 2.3 percent last month, lifting the headline inflation by 1.24 percentage points. Public service prices grew 1.6 percent.
Private service prices, including eating-out costs, rose 2.8 percent last month, slightly lower than the growth of 2.9 percent in the previous month.
The eating-out expense expanded 2.9 percent, and the private service price excluding the dining-out cost advanced 2.8 percent.
Housing rent, including Jeonse and monthly rent, was up 0.9 percent in January 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, gained 2.2 percent in January on a yearly basis, while the fresh food index, which measures price for fish, shellfish, fruit and vegetables, slipped 0.2 percent.
Demand-side inflationary pressure lingered. Core consumer price index, which excludes volatile agricultural and oil products, appreciated 2.3 percent last month.
The OECD-method core price, excluding volatile energy and food costs, picked up 2.0 percent in the cited month. ■