Consumer prices in South Korea were up 1.5 percent on year in July, the Bank of Korea said on Wednesday - below expectations for 1.9 percent and down sharply from 2.2 percent in June.
Inflation also slipped below the central bank's target range of 2 to 4 percent last month, the data showed.
On month, overall inflation was down 0.2 percent versus forecasts for an increase of 0.2 percent after easing 0.1 percent in June.
Core CPI, which strips out the volatile costs of food, was flat on month and up 1.2 percent on year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.