South Korea's consumer price growth marked the lowest level in 22 months in June amid concerns raised over a possible inflation, which may slow down the economic recovery, a government report said Wednesday.
According to the report by the National Statistical Office (NSO), in June, South Korea's consumer price index rose 2 percent year-on-year, compared with a 2.7 percent on-year growth in May.
The June growth marked slowest rate since August 2007 when consumer prices advanced by 2 percent.
Eased inflation can be attributed to lower prices of agricultural products thanks to their increased supply and relatively lower oil costs compared with last year, the NSO said.
The recent optimistic data on inflation data may be easing market concerns over a possibility of inflation amid optimistic indicators pointing at an economic rebound, local media said.
Source: Xinhua
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