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Prices jumped in Sept.; Consumer price index surged 0.9 percent from August.
(From The Korea Herald)
By Koh Byung-joon Korea's consumer prices jumped for the second consecutive month in September largely due to frequent rainfall and Typhoon Maemi, both of which wrought havoc on the harvest of fruits and vegetables, the National Statistical Office said yesterday.
The consumer price index, known as the CPI, rose by 3.3 percent year on year last month, accelerating from the 3 percent growth shown in August. The CPI rose by 0.9 percent compared with a month earlier, the largest increase this year after the 1.2-percent jump in March, the NSO noted.
The CPI is a gauge of the prices of consumer goods and services. The NSO has been conducting monthly price surveys since 1985 to estimate the status of inflation.
The jump in the CPI was largely driven by the increase in the prices of agricultural products especially fruits and vegetables, whose yields have dropped on account of last month's frequent rainfall and the recent Typhoon Maemi, which devastated the southern part of the nation. Prices of agricultural, fishery and livestock products jumped 6.6 percent from a month earlier and 5 ...
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