SEOUL, March 6 (Xinhua) -- South Korea's consumer price inflation hovered above 2 percent for the sixth consecutive month owing to the Lunar New Year holiday leading to higher private service price, statistical ministry data showed Friday.
The consumer price index (CPI) rose 2.0 percent in February from a year earlier, unchanged from January, according to the Ministry of Data and Statistics.
The headline inflation stayed above the central bank's mid-term inflation target of 2 percent since September 2025, with 2.1 percent in September, 2.4 percent in October, 2.4 percent in November and 2.3 percent in December.
Prices for agricultural, livestock and fishery products gained 1.7 percent in February from a year ago, slower than an increase of 2.6 percent in the previous month.
Agricultural products price declined 1.4 percent on supply growth, but those for livestock and fishery products grew 6.0 percent and 4.4 percent each.
Rice price jumped 17.7 percent, but those for tangerine, napa cabbage, white radish, pear, carrot and onion posted a double-digit fall.
Price for pork, beef, egg and mackerel expanded in single figures.
Price for industrial products, including oil products and processed food, increased 1.2 percent in February compared to the same month of last year, lower than the growth of 1.7 percent in the previous month.
Oil products' price dropped 2.4 percent in February on a yearly basis, marking the first downturn in six months on the back of cheaper crude oil.
Price for gasoline, diesel and liquified petroleum gas (LPG) for vehicles retreated in single figures.
Processed food prices swelled 2.1 percent in February from a year earlier, down from an expansion of 2.8 percent in the previous month
It marked the lowest since December 2024 as the anti-trust watchdog's probe into the price-fixing of daily necessities affected the slower gain in processed food prices.
Price for electricity, natural gas and tap water was up 0.2 percent in February 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 2.6 percent last month, lifting the headline inflation by 1.44 percentage points. Public service price grew 1.6 percent.
Private service price, including eating-out cost, mounted 3.5 percent last month, recording the fastest since January 2024.
It was attributed to the Lunar New Year holiday that pushed up prices for travel and accommodation services.
Car rental fee surged 37.1 percent in February, marking the sharpest gain since relevant data began to be compiled in 1995.
The eating-out expense expanded 2.9 percent, and the private service price excluding the dining-out cost advanced 3.9 percent.
Housing rent, including Jeonse and monthly rent, was up 0.9 percent in February 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 1.8 percent in February on a yearly basis, while the fresh food index, which measures price for fish, shellfish, fruit and vegetables, slipped 2.7 percent.
Demand-side inflationary pressure lingered. Core consumer price index, which excludes volatile agricultural and oil products, appreciated 2.5 percent last month.
The OECD-method core price, excluding volatile energy and food costs, picked up 2.3 percent in the cited month. ■