Key facts
- South Korea's consumer prices rose 2.9% in September from a year earlier.
- Consumer price growth slowed to 2.9% in September from 3.1% in August.
- Diesel prices rose 20% and gasoline prices increased 11.8% in September.
- South Korea relies heavily on imports for energy needs.
South Korea's consumer prices increased by 2.9% in September compared to the previous year, a slowdown from the 3.1% rise recorded in August, according to data released by the Ministry of Data and Statistics on Friday. The elevated cost of energy was a significant factor, with diesel prices surging 20% and gasoline prices climbing 11.8% during the month. The nation's heavy reliance on imported energy sources underscores its vulnerability to global price fluctuations. The data indicates a return to the 2% range for consumer price growth.