{
  "id": 17875903,
  "title": "Consumer prices up 2.8% in October, remain in 2% range for 2nd month",
  "url": "https://urgent.news/2026/11/02/consumer-prices-up-2-8-in-october-remain-in-2-range-for-2nd-month-17875903",
  "topic": "world",
  "section": "World",
  "published": "2026-11-02T23:57:02.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/southkorea/20261103/consumer-prices-up-28-in-october-remain-in-2-range-for-2nd-month"
  },
  "original_language": "en",
  "account": "Korea's consumer prices experienced a 2.8% increase in October compared to the previous year, data revealed on Tuesday. Agricultural product prices continued to decline, while energy costs remained high. The Ministry of Data and Statistics reported that consumer price growth slowed to 2.8% in October, down from 2.9% in September and 3.1% in August. The report noted that petroleum products prices surged by 14.9% year-on-year in October, contributing 0.56 percentage points to the month's inflation rate, the highest since July. Diesel prices jumped 19.7% year-on-year, while gasoline prices increased a significant 11.6%. As Korea relies heavily on imported energy, the report indicated that overall industrial product prices rose 4.4% year-on-year in October due to higher global energy costs. Mobile phone and computer prices climbed 10.8% and 26.2% respectively, while imported automobile prices fell 3.9% during the same period.",
  "summary": "Korea's consumer prices rose 2.8 percent in October from a year earlier, data showed Tuesday, as agricultural product prices continued to decline despite energy costs remaining elevated. According to data from the Ministry of Data and Statistics, consumer price growth eased to 2.8 percent in October from 2.9 percent in September and 3.1 percent in August. The data ministry said petroleum…",
  "key_points": [
    "Consumer prices in Korea rose 2.8% in October",
    "Energy costs high, petroleum prices surged 14.9%",
    "Industrial product prices up 4.4% due to global costs"
  ],
  "editors_take": "Persistent surges in petroleum and diesel costs offset falling agricultural prices, forcing inflation to remain elevated as Korea's heavy reliance on imported energy drives up broader industrial costs.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Yonhap News",
        "title": "(URGENT) Consumer prices up 2.8 pct in Oct., remain at 2 pct levels for 2nd month",
        "url": "https://urgent.news/2026/11/02/urgent-consumer-prices-up-2-8-pct-in-oct-remain-at-2-pct-levels-for",
        "published": "2026-11-02T23:00:02.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}