Consumer Prices Grew Less than 1% for 5th Consecutive Month

Write : 2015-05-01 15:19:50 Update : 2015-05-02 11:12:48

Consumer Prices Grew Less than 1% for 5th Consecutive Month

Consumer prices have grown less than one percent for a fifth consecutive month.
 
According to Statistics Korea on Friday, the consumer price index in April edged up by zero-point-four percent from the same month a year earlier, the lowest year-on-year growth since July of 1999.
 
Prices declined in some areas, including fees for electricity, water and gas, which dropped five-point-nine percent from a year ago.
 
Agro-fishery and farming products along with industrial products both saw prices drop zero-point-five percent.
 
Service prices, which include monthly rent, rose one-point-six percent.
 
The Ministry of Strategy and Finance dismissed deflation concerns, saying core inflation, which excludes volatile oil and food prices, has risen by more than two percent for four consecutive months. 

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