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South Korea’s consumer prices grew at the slowest pace in four months in August due in part to the stabilization of farming goods prices, a government report showed Tuesday.
The country’s consumer price index rose 1.4 percent last month from a year earlier, decelerating from July’s 1.6 percent gain.
This marked the slowest growth pace since April, when consumer prices rose 1.5 percent. The price increase has remained in the 1 percent range since November, when it gained 1.2 percent from a year earlier.
The core inflation, which excludes volatile oil and food prices, rose 2.4 percent on-year, up from July when it went up 2.2 percent, the report showed.
“Prices of farming goods remained low as a sufficient amount of major crops is flowing into the market thanks to a bumper harvest aided by favorable summer weather conditions with no serious typhoons,” said Kim Bo-kyung, head of the agency’s prices statistics division. (Yonhap)
The country’s consumer price index rose 1.4 percent last month from a year earlier, decelerating from July’s 1.6 percent gain.
This marked the slowest growth pace since April, when consumer prices rose 1.5 percent. The price increase has remained in the 1 percent range since November, when it gained 1.2 percent from a year earlier.
The core inflation, which excludes volatile oil and food prices, rose 2.4 percent on-year, up from July when it went up 2.2 percent, the report showed.
“Prices of farming goods remained low as a sufficient amount of major crops is flowing into the market thanks to a bumper harvest aided by favorable summer weather conditions with no serious typhoons,” said Kim Bo-kyung, head of the agency’s prices statistics division. (Yonhap)
