
South Korea's July Consumer Prices Rise 2.8%
South Korea's consumer prices increased by 2.8% year-on-year in July, a weaker rise than expected. The increase was influenced by a slowdown in oil price hikes.
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Consumer prices up 2.8% in July; oil price hike slows
South Korea's consumer prices rose 2.8 percent in July from a year earlier as oil prices remained elevated, though their rate of increase slowed, data showed Tuesday, with inflation falling below the 3 percent mark for the first time in three months. According to data from the Ministry of Data and Statistics, the increase slowed from a 3.1 percent and 3.2 percent on-year rise posted in May and June, respectively. Consumer price growth apparently slowed in July from a month earlier as oil prices
By The Korea Herald
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