Consumer prices up 3.1% in May on soaring fuel prices

South Korea's consumer prices rose more than 3 percent in May from a year earlier amid global energy price volatility following the Middle East war, data showed Tuesday.

Consumer prices, a key gauge of inflation, increased 3.1 percent last month from a year earlier, according to data from the Ministry of Data and Statistics.

It marked the fastest growth in 26 months after rising at the same pace in March 2024.

Prices of industrial products rose 4.2 percent, driven largely by higher fuel prices. ...