Chungbuk consumer price increase ‘slow’ in August… Impact of falling international oil prices

[Chungbuk Ilbo] As international oil prices calmed down, the Chungbuk consumer price index in August also slowed for the first time in seven months.

According to ‘August Chungbuk Region Consumer Price Trend’ announced by the Chungcheong Regional Statistical Office, the consumer price index in the province is 109.66 (2020=100).

The consumer price index, which has been on an upward trend since January of this year, fell 0.2% from the previous month, showing its first decline. This is an increase of 6.6% compared to the same month last year.

Consumer prices, which had been on the rise, calmed down as the rise in international oil prices calmed down.

Looking at the trends by item characteristics, the consumer price index for industrial products was 103.22, down 1.6% from the previous month. Compared to the same month last year, it increased by 8.1%.

Items whose prices fell compared to the previous month were △gasoline -12.4% △diesel -10.2% △ice cream -8.7%.

However, the agricultural, livestock and fishery products and service sectors, excluding industrial products, continue to rise in price.

Livestock and fishery products, which are linked to household meal prices, rose 2.4% from the previous month and 6.7% from the same month last year, respectively.

In particular, the prices of fruits and vegetables that have been poorly harvested have risen sharply due to bad weather such as heavy rains and heat waves.

Agricultural products rose 12.3% year-on-year, while livestock products remained flat.

△Pumpkin 92.8% △Carrot 75.3% △Strawberry 72.8% increased from the previous year, respectively, and △Sweet potato -29.0% △ Chestnut -20.6% △ Red pepper powder -19.3% respectively.

Utility rates such as electricity, gas and water rose 1.1% from the previous month and 15.1% from the same month last year.

Water rates rose 8.3% from the previous month, while electricity rates (18.2%), city gas (18.0%) and district heating costs (13.0%) rose respectively from the same month last year.

Inflation in the service sector rose 0.4% from the previous month and 4.8% from the same month last year, respectively, due to a rise in the price of travel services during the summer vacation season. Personal services rose 0.5% from the previous month and 6.7% from the same month last year, respectively.

Among them, △international airfare 22.0% △domestic group travel expenses (20.3%) △ housekeeping fee 20.2% increased from the same month last year.

Compared with the previous month, △condo usage fee increased by 22.8%, △domestic airfare by 9.5%, △hamburger by 7.7%, respectively, △car rental fee by -11.3%, △soju (dining out) -4.3%, △beer (dining out) -3.1%, respectively.

The cost of living index, which explains the perceived price, was 111.19, down 0.6% from the previous month and up 7.4% from the same month last year.

Among them, food sales rose 0.9% from the previous month and 9.0% from the same month last year. Non-food items decreased by 1.6% compared to the previous month and increased by 6.3% compared to the same month last year.

The fresh food index, which is an item whose price fluctuates greatly depending on weather conditions or seasons, such as fresh seafood, vegetables, and fruits, rose 5.6% from the previous month and 18.9% from the same month last year, respectively.

/ Reporter Seong Ji-yeon

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