(MENAFN- Qatar News Agency) South Korea's consumer prices grew less than 1% for the ninth month in a row in August, a government report showed Tuesday, as Asia's fourth-largest economy grapples with deflation concerns.
The country's consumer price index inched up 0.7% last month from a year earlier, the report by Statistics Korea showed. The latest number remains unchanged from 0.7% on-year growth tallied for July, according to South Korea's (Yonhap) News Agency.
The nation's core inflation, which excludes volatile oil and food prices, increased 2.1% from a year earlier, up marginally from a 2% gain reported for July. August marks the eighth straight month that core inflation has grown more than 2% on-year, the statistical office said, adding that a core inflation number exceeding the 2% mark is a sign that people are spending.
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.