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April 30, 2017

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Inflation in South Korea slows to 1.0 percent in February: state data

SEOUL--South Korean consumer prices rose 1.0 percent in February as stable prices of farm produce helped keep inflation in check, state data showed Tuesday.

The on-year increase in the consumer price index compared to 1.1 percent inflation posted in January, state-run Statistics Korea said.

It was the 16th straight month that the inflation rate has remained below the central Bank of Korea's target of 2.5 to 3.5 percent.

The core inflation rate — which excludes volatile oil and food prices — rose 1.7 percent on-year in February after increasing at the same pace in January.

On year, overall prices of food fell 0.6 percent, with prices of fresh produce such as fruit, vegetables and fish down 12.4 percent.

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