SEOUL, Dec 31 (Xinhua): South Korea's consumer price inflation (CPI) stayed at a 15-year low in 2014 on the back of low prices of crude oil and farm goods, boosting worries about deflation, a government report showed Wednesday.
Consumer prices rose 1.3 per cent in 2014 from a year earlier, posting the same increase as in 2013, according to Statistics Korea. It marked the lowest increase since 1999 when the prices gained 0.8 per cent, staying far below the Bank of Korea (BOK)'s mid-term inflation target band of 2.5-3.5 per cent.
It was the first time that the headline inflation stayed below 2 per cent for two years in a row, sparking concerns that consumers may delay consumption on expectations for further fall in prices of goods and services and cause the protracted economic slowdown as seen in Japan.
S Korean CPI stays at 15-year low in 2014
FE Team | Published: January 01, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
Share if you like