South Korea consumer prices rise 2.9 percent in September

South Korea's consumer price index rose 2.9 percent year-on-year in September, approaching the 3 percent threshold. Core inflation, which excludes volatile food and energy prices, followed closely with a 2.8 percent increase. While the overall index rose, fresh food prices saw a decline of 3.3 percent.

In the Gyeonggi region, inflation remained higher, recording a 3.0 percent increase for the second consecutive month. This regional rise was driven by significant price hikes in durable goods, such as computers (up 27.4 percent) and mobile phones (up 8.3 percent), as well as travel-related services, including international airfares (up 22.5 percent) and overseas travel expenses (up 19.3 percent).

Government officials noted that price caps on petroleum and support for agricultural and livestock products during the Chuseok holiday helped mitigate higher inflationary pressures. Without these measures, the September consumer price increase was estimated to have reached 3.5 percent.