Reported 12 months ago
South Korea's consumer inflation decreased to an 11-month low in June, with the consumer price index rising 2.4% year-on-year, slower than May's 2.7% increase and below market expectations. The decrease in inflation was attributed to easing supply-side pressures. The country's vice finance minister expects inflation to stabilize in the lower-to-mid 2% range in the second half of the year, while the Bank of Korea sees the decline in inflation as a positive development and will continue monitoring the situation to achieve its 2% target. The index also saw a 0.2% monthly decline, the first drop in seven months, with prices of agricultural and petroleum goods contributing to the decrease.
Source: YAHOO