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.

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