BUSINESS S.Korea's consumer price inflation hits record low in August

BUSINESS

S.Korea's consumer price inflation hits record low in August

Xinhua

10:54, September 03, 2019

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File photo: VCG

SEOUL, Sept. 3 (Xinhua) -- South Korea's consumer price inflation hit a record low in August, staying below 1 percent for the eighth consecutive month, a government report showed Tuesday.

The consumer price index stood at 104.81 in August, almost unchanged from 104.85 tallied a year earlier, according to Statistics Korea. It was a 0.038 percent fall when calculating down to three decimal places.

It was the lowest since the statistical office began compiling the data in 1965. The previous record-low inflation was 0.2 percent posted in February 1999.

The headline inflation hovered below 1 percent for eight straight months since January on the lower prices for farm goods and oil products.

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