The growth of consumer prices remained below three percent for the second consecutive month in May.

According to Statistics Korea on Tuesday, the country's consumer price index stood at 114-point-09 in May, up two-point-seven percent from a year earlier.

The inflation rate stayed below three percent for the second month in a row after posting three-point-one percent in February and March. 

The rise in the prices of agricultural, livestock and fishery products narrowed to eight-point-seven percent from ten-point-six percent in April. Still, agricultural prices jumped 19 percent in May due to soaring fruit prices. 

The growth in the price of petroleum products widened to three-point-one percent year-on-year, the largest gain since January of last year, when it posted four-point-one percent. 

Core inflation, which excludes volatile food and oil prices, rose two-point-two percent in May from a year earlier.