Financial News: South Korea CPI Inflation Slows More Than Expected

South Korea CPI Inflation Slows More Than Expected

03/06/2023 - 02:27:00 (RTTNews)

(RTTNews) - South Korea's consumer price inflation slowed more than expected in February to its lowest level in ten months, figures from Statistics Korea showed on Monday.

The consumer price index, or CPI, rose 4.8 percent year-on-year in February, from 5.2 percent in January. Economists' had expected 5.0 percent inflation.

Consumer prices increased 0.3 percent on a monthly basis in February following a 0.8 percent rise in the previous month.

Core inflation that excludes prices of food and energy slowed to 4.0 percent from 4.1 percent. The core CPI rose 0.3 percent from January when it climbed 0.6 percent.

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