South Korea's consumer prices rise 1.2 pct in September

South Korea's consumer prices rose 1.2 percent in September from a year earlier on the back of higher farm goods prices caused by sweltering heat, a government report showed on Wednesday.

The consumer price inflation marked the highest in seven months, rebounding above 1 percent for the first time in five months, according to Statistics Korea.

Prices for agricultural, livestock and fishery products jumped 10.2 percent last month, raising the overall headline inflation by 0.77 percentage points.

Agricultural product prices surged 15.3 percent as a decrease in crops caused by heat wave boosted prices for vegetables.

Services prices advanced 1.9 percent in September on a yearly basis, increasing the overall consumer price inflation by 1.08 percentage points.

Prices for electricity, tap water and natural gas tumbled 13.9 percent due to lower global oil prices and a temporary cut in electric bills, pulling down the headline inflation by 0.64 percentage points.

Core consumer prices, which exclude volatile agricultural and oil products, rose 1.3 percent in September compared with a year ago. The OECD-method core inflation, which excludes volatile food and energy prices, advanced 1.8 percent last month. Endit