Consumer prices rise 1.9% in May; fall below 2% for 1st time in 5 months

Korea's consumer prices grew at the 1 percent level for the first time in five months in May, while a weaker Korean won continued to drive up import costs, government data showed Wednesday. Consumer prices, a key gauge of inflation, gained 1.9 percent from a year earlier last month, according to the data from Statistics Korea. Consumer inflation had remained above the Bank of Korea's 2 percent target for four consecutive months through April before slightly easing in May. The statistics agency attributed the latest price increase to the depreciation of the local currency, which pushed up the costs of imported food and agricultural, livestock, and fisheries products. Rising service prices also added upward pressure on overall inflation.Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times