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Korea’s consumer prices slowed for a sixth consecutive month in July to grow 2.3 percent on year, the lowest in 25 months, data released by Statistics Korea showed on Wednesday.
The Bank of Korea on Monday projected inflation to fall below 3 percent in June and July, but expects it to jump back up in the following months for the annual inflation to hover around 3 percent.
Korea’s inflation grew 3.3 percent in May, accelerating at the slowest pace in more than a year and a half.
Global credit appraiser S&P Global Ratings said Monday Korea's annual inflation is expected to hit 5 percent this year due to higher energy and commodity prices.
Korea JoongAng Daily Sitemap