Consumer prices grew at the slowest pace in one year in March as oil prices continued to drop.

According to Statistics Korea on Tuesday, the country's consumer price index stood at 110-point-56 in March, up four-point-two percent from a year earlier.

It represents a drop of zero-point-six percentage points from the previous month and the smallest growth in 12 months since March of last year when it posted a growth of four-point-one percent.

Consumer prices are slowly stabilizing since peaking at six-point-three percent in July of last year, with the recent downward trend attributed to a sharp drop in oil prices, plunging 14-point-two percent on-year in March.

The prices of industrial goods gained two-point-nine percent last month from a year earlier, while prices of agricultural, livestock and fisheries products rose three percent on-year.

The prices of electricity, gas and water soared 28-point-four percent on-year in March, the highest since 2010 when the nation started compiling related data.

Core inflation, which excludes volatile food and oil prices, rose four percent on-year.