South korea: South Korea's consumer prices increased by 3.1 percent in August compared to the previous year, driven by elevated oil prices, as indicated by data released on Wednesday.

According to Yonhap News Agency, the consumer price growth remained above 3 percent in August, marking an acceleration from the 2.8 percent on-year increase observed in July. The surge in August was predominantly influenced by a significant rise in fuel prices, with diesel prices climbing by 19.6 percent and gasoline prices increasing by 11.5 percent.

South Korea's heavy reliance on imports to satisfy its energy requirements has contributed to the impact of rising oil prices on consumer costs.