(MENAFN- Qatar News Agency) South Korea's consumer price growth stayed below 1% in November, aided by falls in costs of farming products, but quickened slightly from the previous month, a government report showed Monday.
The country's consumer price index rose 0.9% on-year in November, accelerating from a 0.7% on-year gain tallied in the previous month, according to the report by Statistics Korea
The October figure marked the slowest on-year consumer price growth since July 1999 when it increased 0.3%, according to South Korea's (Yonhap) News Agency
The core inflation, which excludes volatile oil and food prices, rose 1.8% on-year in November
Prices of fresh food, including fruits and vegetables, fell 8.5% on-year in November
In particular, prices of vegetables plunged 14.8% from a year earlier, the report showed
The "livelihood price" index, which measures the costs of key daily necessities, also inched up 0.2% from a year earlier and fell 0.2% from a month earlier
The latest data comes amid cautious expectations that the country's economy is showing some signs of picking up following a prolonged slow growth trend
The country's gross domestic product grew 1.1% in the third quarter from three months earlier
This marked the fastest quarterly growth since a 1.3% on-quarter advance in the first quarter of 2011
The government earlier predicted that the country's consumer prices will grow 1.7% this year and the growth rate will rise to 2.8% next year
The South Korean finance ministry said that the consumer prices gain will accelerate down the road on a rise in prices of agricultural goods and oil products
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.