Seoul: South Korea's consumer prices increased more than 2 percent from a year earlier last month on a weak local currency that pushed up import prices, data showed Wednesday. Consumer prices, a key gauge of inflation, rose 2.2 percent on-year in January, according to the data from Statistics Korea. It marked the first time in five months that prices increased by more than 2 percent. It is also the largest on-year increase since July, when the figure rose 2.6 percent.

According to Yonhap News Agency, South Korea's consumer inflation has remained below 3 percent since April, and below the central bank's 2 percent target since September, when it grew 1.6 percent on-year. The inflation rate dipped further to 1.3 percent in October before slightly rising to a 1.5 percent increase the following month. The rate came to 1.9 percent in December.

In January, petroleum product prices surged by 7.3 percent from a year earlier, largely due to rising global oil prices and the weak Korean currency, which drove up import costs. The overall prices of agricultural, livestock, and fisheries products increased 1.9 percent on-year last month, according to the agency.

Vegetable prices, which had experienced double-digit growth in previous months, rose 4.4 percent amid stable shipments of key items. Processed food prices climbed 2.7 percent, marking the highest increase since January 2024, when they rose 3.2 percent. Core inflation, which excludes volatile food and energy prices, added 1.9 percent, the data showed.

Prices of daily necessities -- 144 items closely related to people's everyday lives, such as food, clothing, and housing -- went up 0.7 percent last month, the data showed.