South Korea's consumer prices rose 3.1 percent in August from a year earlier, accelerating from a 2.8 percent rise in July. ^[1] Core inflation, which excludes volatile food and energy prices, advanced 3.4 percent on-year in August, the highest level since May 2023. ^[2] Mobile phone service charges rose 26.7 percent in August, reflecting a low base from large-scale discounts offered by SK Telecom Co. last year following a data breach. ^[3] Petroleum product prices increased 14.2% in August, contributing 0.54 percentage points to inflation, down from 0.6 percentage points in July. ^[4] The government attributed slower petroleum price growth to its oil price cap program, estimating inflation would have been 3.6% without it. ^[5] The Ministry of Data and Statistics reported a 3.1% annual increase in South Korea's consumer price index in August, reaching 120.05. ^[6]