Rising consumer prices worry Seoul

Consumer prices in March jumped 3.9 per cent from the same period last year, putting more pressure on the government to grapple with the ever-increasing prices. Fuel prices are found to be the biggest contributor to the rise, followed by gas bills.

The so-called ‘MB items,’ comprised of 52 necessities handpicked by the president last week subject to close monitoring, are reported to have seen 5.78 per cent increase in the price from a year ago. The president is said to have ordered his staff to closely watch the prices of those necessities because they are deemed very crucial items for people’s everyday life.

The Ministry of Strategy and Finance warned April 1 that “consumer prices are expected to grow in the mid-three percentage points for the time being.” The ministry is to hold the second Task Force meeting tomorrow to hammer out prices-stabilizing measures.