There are still some factors that could destabilize international crude oil prices, such as the agreement reached by the two countries, and it is expected that it will take a considerable amount of time for prices to stabilize.
According to a report titled "November Consumer Price Trends" released by the National Statistics Agency on the 5th, the consumer price index in November was 112.74 (2020 was 10
0), which increased by 3.3% compared to the same month last year. Although the inflation rate remains high in the 3% range, the rate of increase is higher than August's 3.4%, September's 3.7%, and October's 3.8%.
The price also went down. The reason for the decline in overall prices is that international crude oil prices have stabilized. International crude oil prices, which exceeded $90 per barrel based on Brent crude oil prices in October,
Last month, the price rapidly fell to the low $70s, pushing down the price of oil, which has a high impact on commodity prices. The contribution of petroleum products to inflation in November was -0.25%, with crude oil prices at a high level
This was a factor that caused prices to fall more than four times as much as the 0.06% in October, which was hovering at 0.06%. However, unlike the overall price stability trend, the prices of agricultural products and other foodstuffs have remained high.
The same is true. This is because agricultural prices continue to rise due to abnormal weather and poor crop performance. The agricultural product price index in November increased by 13.6% compared to the previous year, and
This was the first significant increase in 30 months since 14.9%. The agricultural product price index is a composite of the prices of grains, vegetables, fruits, and other agricultural products, and is the main index for food-related prices. in november
Its contribution to the agricultural product price increase rate was 0.57%, approximately one-quarter of last month's price increase rate (3.3%). Among agricultural products, fruits such as apples increased by 24.1% compared to the previous year.
It was expensive. The soaring prices of agricultural products are having a major impact on consumer sentiment. The living price index, known as perceived prices, increased by 4% compared to the same month last year and remained at the 4% level for three consecutive months.
I have it. This figure is higher than the 3.9% in August, when the rate of increase in the price index began to increase. In addition, the fresh food index includes vegetables and fruits that consumers add to their shopping carts at traditional markets and large supermarkets.
Prices also rose 12.7% compared to the same month last year, riding on the momentum of rising agricultural prices. Professor Son Tae-yoon of Yonsei University's Faculty of Economics said, ``The price increase rate of 3.3% is by no means low, and
Even if the price index were to fall because the prices of products have risen too much, it is very difficult for the people to feel that prices have fallen,'' he said.
"We have to see it as a factor that affects prices."
2023/12/06 07:05 KST
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