Xinhua, Seoul :
South Korea’s consumer price inflation hovered below 2 percent for an eighth consecutive month on low prices for livestock products and those for electricity, tap water and natural gas, a government report showed Friday.
Consumer prices gained 1.5 percent in May from a year earlier, according to Statistics Korea. The headline inflation has stayed below 2 percent since October last year, after hovering above 2 percent for the previous three months.
Vegetable prices jumped last month, pulling up the overall farm goods prices. Gasoline and diesel costs picked up amid expensive crude oil. The higher prices for agricultural and oil products were offset by falls in prices for livestock products and electricity, water and natural gas. Costs for electricity, tap water and gas declined 3.3 percent in May from a year earlier, marking the biggest reduction since November last year. Prices for livestock products tumbled 8.1 percent in May, after slumping 4.7 percent in the previous month.
South Korea’s consumer price inflation hovered below 2 percent for an eighth consecutive month on low prices for livestock products and those for electricity, tap water and natural gas, a government report showed Friday.
Consumer prices gained 1.5 percent in May from a year earlier, according to Statistics Korea. The headline inflation has stayed below 2 percent since October last year, after hovering above 2 percent for the previous three months.
Vegetable prices jumped last month, pulling up the overall farm goods prices. Gasoline and diesel costs picked up amid expensive crude oil. The higher prices for agricultural and oil products were offset by falls in prices for livestock products and electricity, water and natural gas. Costs for electricity, tap water and gas declined 3.3 percent in May from a year earlier, marking the biggest reduction since November last year. Prices for livestock products tumbled 8.1 percent in May, after slumping 4.7 percent in the previous month.
