EFESeoul

South Korea recorded a 2.6 percent year-on-year increase in the consumer price index (CPI) in May, the biggest jump in the indicator in nine years that underlines the growing inflationary pressure resulting from the country's economic recovery.

The CPI for May stood at 2.6 percent year-on-year, up from the 2.3 percent registered in April, Statistics Korea said Wednesday.

Prices in Asia's fourth largest economy grew by 0.1 percent over April (compared to 0.2 percent last month).

This is the highest rise since April 2012, when the indicator had also posted a 2.6 percent year-on-year increase, mainly due to an increase in prices of agricultural products and fuels. EFE