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Korean consumer prices rise 0.8% on-year in January

South Korea's consumer prices rose 0.8 percent in January from a year earlier as agricultural products stabilized and oil products fell, government data showed Friday.

The reading represents a decline from the previous month's 1.3 percent on-year gain, according to figures released by Statistics Korea. It marked the lowest tally in 12 months.


From a month earlier, the index fell 0.1 percent.

Prices of agricultural, livestock and fishery goods rose 2.5 percent on-year in January, compared with a 5.2 percent on-year gain tallied for December.

Prices of industrial goods edged down 0.7 percent in January from a year earlier as oil products fell 9.7 percent during the same period, the agency said.

The price of Dubai crude -- South Korea's benchmark -- stood at an average of US$59 in January, down from $62.2 in January of 2018.

The statistical office said prices of services, covering, among other things, monthly home rental costs, travel costs, medical expenses and mobile phone bills, rose 1.4 in January from a year earlier, vis-a-vis a 1.5 percent on-year increase in December. (Yonhap)