Korea's consumer prices rise at 2% level for 2nd month in Feb

SEOUL: The Republic of Korea’s consumer prices rose at a 2 per cent level for the second consecutive month in February, data showed Thursday.

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Yonhap News Agency quoted data from Statistics Korea as saying that consumer prices - a key gauge of inflation - increased 2 per cent from a year earlier last month. This follows a 2.2 per cent on-year rise in January, which marked the steepest on-year increase since July.

Korean consumer inflation has remained below 3 per cent since April and below the central bank’s 2 per cent target since September, when it grew I.6 per cent on-year. The inflation rate dipped further to 1.3 per cent in October before slightly rising to I.5 per cent the following month. The rate came to |.9 per cent in December.