Seoul: South Korea's consumer prices rose by 2.1 percent in April, marking the fourth consecutive month of growth at the 2 percent level, primarily driven by higher costs in food and services, as revealed by government data on Friday. This consistent rise in consumer prices highlights ongoing inflationary pressures within the nation.

According to Yonhap News Agency, data from Statistics Korea indicated that consumer prices, a crucial measure of inflation, increased by 2.1 percent compared to the previous year. This follows a 2.2 percent rise in January, which was the steepest year-on-year increase since July, and subsequent gains of 2 percent and 2.1 percent in February and March, respectively.

The increase in consumer prices can primarily be attributed to rising costs in agro-fisheries products and industrial goods, as well as utility and service expenses. Both agro-fisheries products and industrial goods saw a 1.5 percent increase, while utility costs rose by 3.1 percent and service costs climbed 2.4 percent, as reported by the agency.

Processed food products experienced a significant price surge of 4.1 percent, driven by a weak Korean won that inflated import costs for ingredients. Dining out costs also rose by 3.2 percent, marking the largest year-on-year increase in 13 months, largely due to the local currency's weakness.

The Korean won has been under pressure amid political uncertainty following former President Yoon Suk Yeol's brief imposition of martial law on December 3. This situation was compounded by U.S. President Donald Trump's tariff escalation.

Conversely, petroleum product prices dropped by 1.7 percent due to a recent decline in global oil prices.

Core inflation, excluding volatile food and energy prices, rose by 2.1 percent on-year, surpassing the 2 percent level for the first time in seven months. When excluding the volatile agro-fisheries and petroleum product prices, core inflation increased by 2.4 percent on-year in April, compared to a 2.1 percent increase the previous month.

"Core inflation was greater than the overall consumer price increase as it does not reflect the decrease in vegetables, fruits, and petroleum products, but we cautiously predict the current price trend will be maintained for the foreseeable future," said Lee Doo-won, an official at Statistics Korea.

Prices of daily necessities, encompassing 144 items closely linked to everyday life, such as food, clothing, and housing, rose by 2.4 percent in April, matching the growth rate of the previous month.