The composite consumer sentiment index (CCSI), which gauges the sentiment of consumers over economic situation, fell 1.2 points over the month to 100.7 in March, according to the Bank of Korea (BOK).
It marked the first decrease in four months on the back of soaring price for farm goods and weak domestic demand.
Consumer prices rose 3.1 percent in February from a year earlier, higher than an increase of 2.8 percent in the prior month.
Agricultural product price soared 20.9 percent in February on a yearly basis after surging 15.4 percent in the previous month.
The BOK had left its benchmark interest rate unchanged at 3.50 percent since January last year.
Inflation expectations, which measure the outlook among consumers over headline inflation for the next 12 months, advanced 0.2 percentage points to 3.2 percent in March compared to the previous month.
After peaking at 4.7 percent in July 2022, the inflation expectations had roughly been on the decline.
The results were based on a survey of 2,335 households conducted from March 12 to 19.
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