Government Analysis: Price Ceiling Policy Curbs Inflation Amid Middle East Conflict
The South Korean government reports that its petroleum price ceiling policy successfully reduced consumer inflation by 0.6 percentage points in September. Additionally, agricultural and livestock prices have declined for two consecutive months due to supply expansion and discount support.
The Ministry of Finance and Economy stated that September's consumer price index rose by 2.9%, noting that inflation would have reached 3.5% without the price control measures. Authorities plan to continue managing supply and demand for agricultural products while improving distribution structures. Furthermore, the government is committed to cracking down on financial crimes and illegal market activities to ensure fair trade. These efforts are part of a broader strategy to stabilize the cost of living for citizens.
