Consumer prices in Korea increased by 1.7% during August
Seoul on September 2/ WAM/ Consumer prices in the Republic of Korea grew at less than 2% during last August, recording the slowest pace of growth within nine months, according to the Korean Statistical Authority data issued today “Tuesday”.
The Korean “Yonhap” news agency reported that the prices of consumer, which is a main measure of inflation, increased by 1.7% during the month of August compared to the previous year, according to the authority’s data.
She added that inflation remained higher than the goal of the Korea Bank of 2% for four consecutive months until April, before it slowed to 1.9% in May, then rose again, to remain above 2% in June and July, as this represents the slowest growth since November 2024, when prices rose by 1.5% on an annual basis.
She pointed out that the basic inflation, which excludes the prices of food and volatile energy, increased by 1.3% last August, retreating from 2% growth last July.
– Khal –
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