The central bank has maintained its inflation outlook for this year at two-point-six percent. 

Sticking with its previous outlook, the Bank of Korea(BOK) said on Thursday that although global oil prices temporarily surged early this year due to the Middle East crisis and agricultural prices continued to rise, inflation did not deviate from the forecast path.

The BOK has projected inflation will continue to slow down and fall to a monthly average of two-point-three percent in the second half of the year.

Consumer prices grew two-point-eight percent in January, three-point-one percent each in February and March before slowing down to two-point-nine percent in April. 

The BOK also maintained its inflation outlook for next year at two-point-one percent.