The consumer price index rose 3.2% in June. It was the biggest increase in 2 years and 6 months since December 2023 (3.2%), when consumer prices were high due to the fallout from the Russia-Ukraine war. Petroleum products jumped 24.7% on the impact of the Middle East war, marking the biggest increase in 3 years and 11 months. Agricultural, livestock, and fisheries products also rose 3.2%, widening from 2.2% a month earlier.
According to the "June consumer price trends" that the Ministry of Data and Statistics (MODS) released on the 2nd, last month's consumer price index was 119.99 (2020=100), up 3.2% from a year earlier. Recently, the pace of price increases had been slowing since Oct. last year, but after the Middle East war, the rises expanded in March (2.2%), April (2.6%), and May (3.1%), and again last month.
An official at the Ministry of Data and Statistics (MODS) said, "With the Middle East war, the increase in petroleum product prices widened slightly, and prices of agricultural, livestock, and fisheries products also rose due to factors such as lower shipments."
Prices of petroleum products climbed 24.7% from a year earlier. This was the biggest increase in 3 years and 11 months since July 2022 (35.2%). Specifically, gasoline, diesel, and kerosene rose 23.1%, 33.7%, and 23.1%, respectively. Diesel and kerosene posted the highest increases in 3 years and 11 months and 3 years and 4 months, respectively, while gasoline was the same as the previous month.
Prices of agricultural, livestock, and fisheries products rose 3.2%. It was the biggest increase in 6 months since 4.1% in Dec. 2025. By item, green onions rose 37.1% from a year earlier, while rice and eggs increased 11.7% and 10.3%, respectively. Lee Doo-won, Deputy Director General for Economic Trend Statistics at the Ministry of Data and Statistics (MODS), said, "Some agricultural products such as green onions and napa cabbage saw sharp price increases due to delayed growth or reduced cultivation area."
Industrial products including petroleum products rose 4.4% from a year earlier. Among detailed items, computers rose 22.2%. Another component of industrial products, processed foods, rose only 0.9%. Electricity, gas, and water rose 0.1%.
Services, referring to personal services such as rent, public services, and dining out, rose 2.6%. Public services rose 1.6%, and personal services rose 3.4%. The Deputy Director General said, "In personal services, the rise in dining-out items was similar to the previous month, but the increase in travel and lodging-related items that had surged last month—such as passenger car rental fees and overseas group tour costs—narrowed this month, reducing the rise in personal services excluding dining out."
The living cost index, which reflects perceived prices and is composed mainly of frequently purchased items, rose 3.4%, widening the increase by 0.1 percentage point from 3.3% a month earlier. The fresh food index, which reflects "table prices," rose 0.4%.
The index excluding food and energy, a core inflation gauge used by the Organization for Economic Cooperation and Development (OECD), rose 2.5%, the same increase as the previous month. Another core inflation gauge, the index excluding agricultural products and petroleum products, rose 2.4%.