South Korea’s consumer prices increased at a slower than expected rate in August, figures from Statistics Korea showed Tuesday.
Consumer prices rose 1.4 percent year-over-year in August following the 1.6 percent rise in July. Economists had expected consumer prices to grow at the stable rate of 1.6 percent.
Core consumer prices, excluding agricultural products and oils, climbed 2.4 percent year-over-year, which was faster than the 2.2 percent increase in July.
Heavily weighed housing, water, electricity, gas and other fuels prices rose 2.7 percent. Prices in restaurants and hotels gained 1.4 percent and education costs increased 1.7 percent.
Meanwhile, prices of food and non-alcoholic beverages fell 0.5 percent and transport costs dropped 1.9 percent.
On a month-over-month basis, consumer prices grew 0.2 percent, after the 0.1 percent increase in July.
Published: 2014-09-02 04:48:00 UTC+00
South Korean CPI Rises At Slower Rate In Aug; Trails Expectations
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