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S.Korea posts zero-percent change in consumer price index

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S.Korea posts zero-percent change in consumer price index

South Korea posted a zero-percent change in the consumer price index (CPI) last month on lower oil product price and public services cost, statistical office data showed Thursday.

The CPI stood at 104.87 in June, unchanged from the same month of last year, according to Statistics Korea.

After peaking at 1.5 percent, the consumer price inflation continued to fall to 0.1 percent in April before logging a negative 0.3 percent in May.

Price for agricultural, livestock, fishery products gained 4.6 percent in June from a year ago, pulling up the headline inflation by 0.35 percentage points.

Farm goods price went up as people preferred cooking at home on worry about the COVID-19 outbreak.

Livestock product price jumped 10.5 percent, and vegetable price picked up 9.7 percent. Fishery product price was up 6.9 percent.

Oil product price tumbled 15.4 percent in June from a year earlier, and public services cost slipped 2.0 percent. The price falls pulled down the overall inflation by 0.96 percentage points.

Core consumer price, which excludes volatile agricultural and oil products, rose 0.6 percent in June from a year ago. The OECD-method core price, which excludes food and energy cost, added 0.2 percent.

(XINHUA)

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