S.Korea's consumer prices rise 1.3 pct in October

Consumer prices in South Korea posted the highest increase in eight months as vegetable prices picked up during the kimchi-preparing period for winter, a government report showed on Tuesday.

Consumer prices gained 1.3 percent in October from a year earlier, the highest since February, according to Statistics Korea.

After staying below 1 percent for four months through August, the consumer price inflation rebounded above the 1 percent level in September at 1.2 percent.

Prices for agricultural, livestock and fishery products surged 8.1 percent over the year, raising the overall headline inflation by 0.60 percentage points. The reading lingered high after jumping 10.2 percent in September.

Agricultural product prices surged 10.3 percent, with those for livestock and fishery products advancing 6.1 percent and 5.3 percent respectively.

Vegetable prices gained ground on weak crops caused by sweltering heat in summer. Prices for napa cabbage and white radish soared 143.6 percent and 139.7 percent each as the period of preparing kimchi for winter came in.

Fresh vegetable prices surged 42 percent, with fresh fruit prices rising 1.4 percent. The fresh food price index, which reflects vegetables, fruits and fish, advanced 15.4 percent.

Core consumer prices, which exclude volatile agricultural and oil products, rose 1.5 percent in October on a yearly basis. The OECD-method core prices, excluding food and energy costs, added 1.6 percent. Enditem