360° Coverage : South Korea's consumer price inflation stays low

South Korea's consumer price inflation stays low

Seoul, July 1 (IANS) South Korea's consumer price inflation stayed at the lowest level in nearly 14 years for two straight months due to the persistently stable picture of farm goods and oil prices, a government report showed Monday.

Jul 1 2013, 2:01am CDT | by

South Korea's consumer price inflation stays low
Photo Credit: LAURENT FIEVET, Getty Images

Seoul, July 1 — South Korea's consumer price inflation stayed at the lowest level in nearly 14 years for two straight months due to the persistently stable picture of farm goods and oil prices, a government report showed Monday.

Consumer prices rose 1 percent in June from a year earlier, stayed at the level for the second consecutive month, according to a report by Statistics Korea. From a month before, the prices fell 0.1 percent, reported Xinhua.

The on-year figure was the lowest since September 1999 when the prices gained 0.8 percent, and remained in the 1-percent range for eight straight months.

The trend of stable prices was attributed to a continued fall in farm goods and petroleum product prices coming from good weathers and stable crude oil prices. Prices for agricultural and oil products declined 4.7 percent and 0.1 percent each in June from the prior month.

IANS

Source: IANS

 
 
 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

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