Seoul: South Korea's consumer prices rose by 1.5 percent in November compared to the same month last year, marking the third consecutive month of inflation below 2 percent, as revealed by recent data. According to Yonhap News Agency, the data from Statistics Korea showed that the consumer prices in November followed a 1.3 percent on-year increase in October and a 1.6 percent rise in September. This trend indicates that South Korea's consumer inflation has remained under 3 percent since April, dipping below the central bank's target rate of 2 percent for the first time in September. In November, the prices of agricultural, livestock, and fisheries products increased by 1 percent on-year. Vegetables experienced a notable price surge of 10.4 percent compared to the previous year, influenced by adverse weather conditions and reduced shipments of essential items like radishes and cabbages, which are crucial for making kimchi. Conversely, fruit prices decreased by 8.6 percent on-year due to steady supply levels. P etroleum product prices saw a decline of 5.3 percent from a year earlier, attributed to the easing of global oil prices. Baek Ji-seon, an official from the agency, stated, "The drop is due to the decline in international oil prices compared with the same month last year." Dubai crude, South Korea's oil benchmark, averaged $72.6 per barrel in November, reflecting a 13.1 percent decrease compared to the previous year. Core inflation, which excludes the volatile categories of food and energy, increased by 1.9 percent in November, slightly up from a 1.8 percent on-year rise in October. Additionally, the prices of daily necessities, encompassing 144 items essential to everyday life such as food, clothing, and housing, rose by 1.6 percent last month.