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South Korea·Trade & Economy·Energy

South Korea records highest consumer prices in 30 months on Middle East war impact

Thursday, 2 July 2026, 06:30 · 1 min read

South Korea's consumer prices rose 3.2 percent year-on-year in June, marking a second consecutive month above the 3 percent threshold, according to the Ministry of Data and Statistics. The increase was driven largely by soaring fuel costs, with gasoline up 23.1 percent and diesel jumping 33.7 percent, as the ongoing Middle East conflict continues to disrupt oil supply chains. The figures underscore South Korea's particular vulnerability to global energy shocks, given its heavy reliance on imported fuel to meet domestic energy needs.

Sources
YonhapConsumer prices rise 3.2 pct in June amid lingering Middle East war impact ↗︎
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