Consumer prices have slowed by 1% for the second month...Still uneasy about 'Kimjang Price'

Living Price Index 1.2% ↑…For the second consecutive month, the 1% range
Oil Prices 10.9% ↓…Bring down the whole price
Petrol down 10.6% and diesel down 16.1%
Fruit Prices Steady...20% apple ↓ 6.5% grape ↓

[Anchor]
Consumer price growth hit 1.3% last month, continuing a slowdown of 1% for the second month.

However, ahead of the kimchi-making season, vegetables such as cabbage and radish showed a high rise of more than 10%.

Reporter Oh In-seok on the report.

[Reporter]
Last month, consumer prices recorded the lowest increase in three years and nine months due to a sharp drop in oil prices.

After slowing to the 2% level in April, it remained in the 2% range for the fifth month in a row before falling to the 1% level for the second consecutive month in September and October.

The living price index, which is close to perceived prices, rose 1.2%, falling to the 1% range for the second month.

The sharpest drop in oil prices in 15 months dragged down consumer prices last month.

Gasoline fell 10.6% and diesel dropped 16.1%.

Agricultural prices rose 1.2%, with apples falling 20% and grapes falling 6.5%.

Vegetable prices, on the other hand, rose 15.6%, the highest gain since October 2022.

Cabbage and radish, which are kimchi ingredients, jumped more than 50%, respectively, and lettuce rose 49%.

Prices for personal services, including eating out, rose 2.9%.

The government evaluated that the downward price stability is strengthening.

Prices this month are forecast to continue to flow within 2% unless there is a special external shock.

However, he said he will implement measures to stabilize the supply and demand of kimchi ingredients ahead of the kimchi-making season as the price burden such as vegetables remains.

[Kim Beom-seok / First Vice Minister of Strategy and Finance: We will supply 24,000 tons of cabbage by increasing the contract cultivation volume by 10% from last year, and 2,000 tons of seasoned vegetables such as peppers, garlic, and onions will be flexibly supplied according to the supply and demand situation.]

In line with the two-month extension of the oil tax cut, the government will extend subsidies for diesel and compressed natural gas oil prices for buses, taxis, lorries, and coastal cargo ships by two more months until the end of the year.

This is YTN Oh In-seok.

Reporter for shooting
: Jeong Chul-woo
Video editing: Lee Eun-kyung
Design: Im Saetbyul