Statistics Korea data showed consumer prices rose 3.2 percent in June from a year earlier, the sharpest increase since December 2023.
Industrial product prices rose 4.4 percent, led by a 24.7 percent jump in fuel prices that added 0.93 percentage points to the overall increase. Gasoline prices climbed 23.1 percent and diesel prices surged 33.7 percent.
Agricultural and fishery product prices increased 3.2 percent, with domestic beef rising 7.5 percent, rice 11.7 percent and green onions 37.1 percent.
Service prices advanced 2.6 percent and core inflation, excluding food and energy, rose 2.5 percent. The government has deployed a fuel price cap, discount events at stores in July and August, and extra egg imports.
Prime Minister Han Seong-sook said price management must be the top priority. First Vice Finance Minister Lee Hyoung-il stressed efforts to keep inflation around 3 percent in the second half of 2024.
