SEOUL: The Republic of Korea inflation fell below 3 percent for the first time in six months in January, showing signs that inflationary pressure is easing, data showed Friday.
Consumer prices, a key inflation gauge, rose 2.8 percent on-year last month, compared with a 3.2 percent increase a month earlier, Yonhap news agency quoted the data from Statistics Korea as saying.
According to Yonhap, ‘It is the first time that the figure fell below the 3 percent level since July last year when the prices gained 2.4 percent.
“Inflation then rose to 3.4 percent in August and further to 3.7 and 3.8 percent the following months before coming to 3.3 percent in November on high prices of energy and farm produce. The price growth slowed down for the third month in a row in January.’
Core inflation, which excludes volatile food and energy prices, went up 2.6 percent on-year in January.
Prices of agricultural, livestock and fishery products surged 8 percent on-year last month. Also, prices of industrial products added 1
.8 percent.
Source: Emirates News Agency
