South Korean consumers' confidence dipped to a seven-month low in August as the protracted eurozone debt crisis and China's slowing economy heightened economic uncertainties, the central bank said Monday.

The consumer sentiment index (CSI) -- a gauge of consumers'

overall economic outlook, living conditions and future spending -- came in at 99 for August, down from 100 tallied in the previous month, according to a survey by the Bank of Korea (BOK).

The August figure marked the lowest level since the index hit 98 in January, the bank said.

A reading below the benchmark 100 means pessimists outnumber optimists. The survey, based on a poll of 2,062 households in 56 cities nationwide, was conducted from Aug. 13-20.

"Anemic economic data and the global economic slowdown weighed on consumers' sentiment," said an official at the BOK.

The sentiment index, a gauge of future private spending, also fell below the benchmark for the first time in seven months, according to the survey.

The data came as the BOK froze the key rate at 3 percent in August, following its surprise rate cut in July to shield the local economy from the eurozone debt turmoil. The bank's 2012 growth estimate was lowered to 3 percent from 3.5 percent.

The index gauging consumers' outlook for interest rates hit a 41-month low in August, indicating that they are betting on a further rate cut within this year, according to the BOK.

The index came in at 96 for this month, down from 105 tallied in July and the lowest level since 92 in March 2009. It also marked the first time that the index fell below the benchmark 100 since 99 in April 2009.

The country's headline inflation slowed to the 1 percent range in July on retreats in oil prices, but consumer's inflation expectations remained higher than consumer price figures.

South Korean consumers forecast in August that inflation would reach an annual average of 3.6 percent over the next 12 months, unchanged from an estimate made in the previous month, according to the bank. (Yonhap News)