Lee warns against unwarranted price hikes

SEOUL, June 7 (Yonhap) -- President Lee Myung-bak said Tuesday the government should make sure to keep prices in check and warned against unwarranted price hikes, according to the presidential spokeswoman.
"The government should continue to work steadily with a focus on" taking care of people's livelihoods, Lee told senior secretaries in a weekly meeting, according to presidential spokeswoman Kim Hee-jung.
"In particular, related ministers should pay special attention to the issue of prices as it is a matter directly related to ordinary people's everyday lives. Raising prices when there is no reason to do so should be thoroughly cracked down on," Lee was quoted as saying.
South Korea's consumer prices jumped 4.1 percent in May from a year earlier, staying over the 4 percent mark for the fifth straight month. Core inflation that excludes volatile food and energy prices spiked 3.5 percent, the highest gain in 23 months.
jschang@yna.co.kr