South Korean Inflation Lowest in 16 Years
kpopluv, March 4, 2015, 8:30 a.m.
Consumer prices in Korea last month grew at the slowest pace in nearly 16 years. Data released Tuesday by Statistics Korea show that prices went up by a mere 0.5 percent from a year earlier in February.
Officials attribute the low growth to a recent drop in global oil prices, which has dragged down domestic petroleum prices by over 5 percent. Some analysts worry about possible deflation, but others have ruled it out, citing the fact that core inflation, which excludes volatile oil and food prices, stands at 2.3 percent.