Korea's inflation rate hits 3.7% in Q3

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Korea's inflation rate hits 3.7% in Q3

Published: 21 Nov. 2023, 09:52

KIM JU-YEON
[email protected]

Customers queue on Sunday at an E-Mart for the supermarket chain's annual sale event. [NEWS1]

Consumer prices rose in all 17 major cities and provinces in Korea in the third quarter, and Seoul reported the sharpest growth of 3.7 percent among them on rising utility bills and costs of eating out, Statistics Korea data showed Monday.

Inflation climbed 3.1 percent on-year in the July to September period in the country's 17 regions, slowing from a 3.2 percent expansion in the second quarter, according to the data.

Among the regions, Seoul reported the sharpest rise, followed by Ulsan with 3.4 percent, and Incheon and Busan with 3.3 percent growth each.

Jeju saw the lowest level of 2 percent, and Sejong logged a 2.5 percent growth.

BY KIM JU-YEON, YONHAP [[email protected]]