South Korea’s consumer prices rose 2.8% in July from a year earlier, slowing from 3.2% in June. Data from National Data Agency. Graphic by Asia Today and translated by UPI
Aug. 4 (Asia Today) -- South Korea's consumer inflation slowed to 2.8% in July, returning to the 2% range after three months as lower global oil prices and a government fuel price cap curbed increases in petroleum prices.
Underlying inflation, however, accelerated to its highest level in two years and seven months, indicating that broader price pressures remain persistent.
The consumer price index stood at 119.77 in July, with 2020 set at 100, up 2.8% from a year earlier, the Ministry of Data and Statistics said Tuesday.
Annual inflation was 2.2% in March and 2.6% in April before rising to 3.1% in May and 3.2% in June amid the effects of the Middle East war. The rate fell back below 3% in July. The ministry reported that June's consumer price index rose 3.2% from a year earlier.
