(MENAFN) Consumer price growth in South Korea last year was lower than in Japan for the first time in 41 years. The latest statistics from the Organization for Economic Cooperation and Development (OECD) showed that South Korea's consumer prices grew only 1.3 percent in 2014 from a year ago, QNA reported.
In comparison, consumer prices in Japan increased 2.7 percent during the same period, local media reported.
It is the first time consumer prices in South Korea have grown at a slower pace than Japan since the oil crisis in 1973.
Last year's consumer price growth in South Korea was also lower than the 1.6 percent average of G7 countries. It is the first time in 8 years that South Korea's price growth has been lower than G7 average.
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