Consumer prices saw inflation slip back to the one percent range in May after four months in the two percent range, as the warm weather led to an increase in vegetable shipments while international oil prices dropped.

According to Statistics Korea on Wednesday, the country’s consumer price index stood at 116-point-27 last month, up one-point-nine percent from the same period last year. 

The inflation rate slowed from the figures posted between January and April of this year, which ranged between two percent and two-point-two percent.

Service prices gained two-point-three percent while the prices of agricultural, livestock and fishery products rose just zero-point-one percent. 

Petroleum prices slipped two-point-three percent on-year.

Core inflation, which excludes volatile food and energy prices, rose two percent, representing a slight dip from the two-point-one percent growth posted in April.