The monthly average income per household with one or more family members stood at 4,869,000 won (3,630 U.S. dollars) in the July-September quarter, up 3.0 percent from a year earlier, according to Statistics Korea.
The nominal income kept growing for the fifth consecutive quarter, but the real income declined 2.8 percent in the third quarter, marking the first reduction in the five quarters after the second quarter of last year.
Consumer prices advanced 5.9 percent in the third quarter from a year earlier, logging the highest since the fourth quarter of 1998.
Nominal earned income gained 5.4 percent to 3,114,000 won (2,320 dollars) in the cited quarter, but the real earned income retreated 0.4 percent, keeping a downward trend for the second successive quarter.
The continued job growth contributed to the higher nominal earned income.
On a nominal basis, the monthly average business income expanded 12.0 percent to 991,000 won (740 dollars) and property income jumped 28.7 percent to 30,000 won (22 dollars).
Transfer income tumbled 18.8 percent in the third quarter following the end of the government's relief fund program to support small merchants and the self-employed affected by the COVID-19 pandemic.
Public transfer income plunged 26.1 percent, while private transfer income inched up 0.2 percent.
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