Korea's consumer prices rise 1.7 per cent in August

The Republic of Korea's consumer prices grew by less than 2 per cent in August, marking the slowest pace of growth in nine months, data showed Tuesday.

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Consumer prices, a key gauge of inflation, increased 1.7 per cent from a year earlier last month, Yonhap News Agency quoted data from Statistics Korea as saying.

Inflation had remained above the Bank of Korea’s 2 per cent target for four consecutive months through April before slowing to 1.9 per cent in May. It then climbed again, staying above 2 per cent in both June and July.

It also marks the slowest growth since November 2024, when the comparative figure grew by 1.5 per cent on-year.