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South Korea’s prices related to spending on summer vacation shot up in June from a year earlier, bucking the trend of slowing growth of its consumer inflation, data showed Monday.
The average hotel bill in the country rose 5.7 percent in June from the previous year, compared with a 1 percent on-year gain in consumer inflation last month, according to the data by Statistics Korea.
Car rental costs jumped 21.4 percent on-year in June, and prices of sunscreens shot up 27.7 percent compared with the same period last year, the data showed.
Prices of such products usually rise during summer vacation due to seasonal factors, but this year’s price gains stood out as the country’s overall consumer inflation remained largely subdued, experts say. (Yonhap News)
The average hotel bill in the country rose 5.7 percent in June from the previous year, compared with a 1 percent on-year gain in consumer inflation last month, according to the data by Statistics Korea.
Car rental costs jumped 21.4 percent on-year in June, and prices of sunscreens shot up 27.7 percent compared with the same period last year, the data showed.
Prices of such products usually rise during summer vacation due to seasonal factors, but this year’s price gains stood out as the country’s overall consumer inflation remained largely subdued, experts say. (Yonhap News)
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Articles by Korea Herald
