July consumer prices rise 2.1%, remain in 2% range

Aug 05, 2025, 08:39 am

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A seafood market in South Korea during the nationwide “Korea Seafood Fair” campaign, as seafood prices surged in July. / Yonhap

Consumer prices in South Korea rose 2.1% in July, marking the second consecutive month of inflation in the 2% range, driven mainly by higher processed food and seafood prices.

According to data released by Statistics Korea on August 5, July’s consumer price index increased 2.1% year-on-year. Inflation had stayed in the 2% range since January before briefly slowing to 1.9% in May, but has returned to the 2% level for two straight months since June.

By category, processed food prices rose 4.1% due to increased factory prices, contributing 0.35 percentage points to overall inflation. Seafood prices jumped 7.3%, showing a sharp rise, while agricultural product prices fell 0.1% from a year earlier, though the decline narrowed compared to June’s 1.8% drop.

Core inflation, measured by the OECD standard index excluding food and energy, rose 2.0%, maintaining the same level as the previous month. The living price index, which reflects frequently purchased items and is closely tied to perceived cost of living, also recorded a 2.5% increase, unchanged from June.

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