Consumer prices in the Republic of Korea rose by less than 2 percent in August, recording the slowest growth rate in nine months, according to data released Tuesday.
Statistics Korea, as reported by Yonhap News Agency, indicated that consumer prices—a key measure of inflation—increased 1.7 percent year-on-year last month.
Inflation had remained above the Bank of Korea’s 2 percent target for four straight months through April before easing to 1.9 percent in May. It then rose again, staying above 2 percent in both June and July.
August’s increase also represents the slowest pace since November 2024, when prices rose 1.5 percent year-on-year.
Core inflation, which excludes food and energy prices due to their volatility, climbed 1.3 percent in August, slowing from July’s 2 percent growth.
(Inputs from WAM)
