Consumer prices rose by the most in three months in March.

The rise is seen as reflecting the impact of higher oil product prices due to war in the Middle East, as well as the continued effects of a weak won.

According to the March consumer price trend report released by the National Data Agency on Wednesday, the consumer price index stood at 118.80 (2020=100), up 2.2 percent from a year earlier.

The inflation rate eased to 2.3 percent in December from 2.4 percent in October and November last year, then fell to 2.0 percent in January. It held at the same level through February before rising by 0.2 percentage points last month.

Oil products jumped 9.9 percent, pushing overall inflation up by 0.39 percentage points.

The rise in oil product prices was the highest in 3 years and 5 months, since October 2022 (10.3 percent), the year the Russia-Ukraine war began.

Diesel rose 17.0 percent and gasoline increased 8.0 percent, among the largest gains.

The surge in international oil prices due to the U.S.-Iran war was reflected, but the shock was partly offset by the implementation of an oil price cap system.

Falling agricultural product prices helped curb the overall rise in inflation.

Agricultural, livestock and fisheries products fell 0.6 percent from a year earlier.

Agricultural products fell 5.6 percent, lowering the overall consumer price index by 0.25 percentage points. Livestock and fisheries products rose 6.2 percent and 4.4 percent, respectively.

The cost-of-living index, based on frequently purchased items and seen as reflecting perceived inflation, rose 2.3 percent.

The fresh food index, which reflects "table inflation", fell 6.6 percent.

The index excluding food and energy, a core inflation measure used by the Organisation for Economic Co-operation and Development (OECD), rose 2.2 percent.

[Yonhap News Agency]