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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.