South Korea will revise the composition of its consumer price index (CPI) basket in a regular reshuffle, adding items such as subscription services and smartwatch-related costs to better reflect current consumption patterns.
The statistical agency announced the changes on Tuesday, aiming to align the inflation gauge with the latest trends in household spending.
The government has also allocated 350 billion won (US$226 million) to discount events for agricultural and fishery products in an effort to directly lower costs for consumers.
The methodological update comes as the South Korean government intensifies its focus on curbing rising prices.
Prime Minister Han Seong-sook recently declared that controlling inflation must be the administration's top priority, following data showing consumer prices rose at their fastest pace in 30 months last month.
The government has also allocated 350 billion won (US$226 million) to discount events for agricultural and fishery products in an effort to directly lower costs for consumers.
By incorporating digital services and wearable technology into the CPI basket, the statistical agency seeks to provide a more accurate picture of the cost of living for modern households.