(MENAFN) South Korea's consumer price inflation remained at a zero-percent level for eight straight months, boosting worries that the economy may fall into deflation amid an economic slump.
Consumer prices rose 0.7 percent in July compared to a year earlier, posting an identical increase with the previous month, according to data released by Statistics Korea.
The headline inflation fell below 1 percent in December 2014 and declined to 0.4 percent in March before gaining to 0.5 percent in May and 0.7 percent in June and July.
After the outbreak of MERS, Bank of Korea (BOK) lowered its policy rate to an all-time low of 1.5 percent in June. The finance ministry unveiled a additional budget plan worth about USD1 billion for the second half.
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