Consumer prices here in Korea rose two percent on-year in November... on the back of rising agricultural and petroleum goods prices.<br />Our Ko Roon-hee reports. <br />According to Statistics Korea Tuesday, consumer prices rose 2-percent on year for the second consecutive month in November... on par with the Bank of Korea's target goal.<br /> This... after price growth had languished in the one-percent range for twelve straight months up until September. <br /><br />The two main factors behind the rise were... soaring prices of agricultural and petroleum products.<br />Vegetable prices surged by more than 14-percent on year last month. <br />The agency said this was due to the lasting impact... of the summer's record heatwave and heavy rainfall.<br />In August, temperatures in Seoul sizzled at an 111-year high and the prolonged heat wave led to supply shortages. <br />However, on an on-month basis,... vegetable prices fell almost 11-percent,... an indication that the effects of the summer's inclement weather is starting to wear off.<br /><br />Prices of petroleum products also rose by more than 6 percent on year... due to a global crude rally which lasted until early November. <br />Statistics Korea said a sharp drop in international oil prices starting mid November will be reflected in next month's data.<br />The agency also pointed out that prices of petroleum products decreased on-month... after the government slashed domestic transport fuel taxes by 15 percent for six months, starting November 6th.<br /><br />Meanwhile, utility prices including electricity, water and gas went up by 1-point-5 percent on year.<br />Inflation excluding food and energy items, was up 1-point-1 percent on-year. <br />Ko Roon-hee, Arirang News. <br />
