Consumer prices in South Korea were up 0.7 percent on year in May, Statistics Korea said on Wednesday, as price growth remained below 1.0 percent for the seventh straight month and continues to fuel concerns of deflation.
That topped forecasts for an increase of 5.0 percent, which would have been unchanged from the May reading.
On a monthly basis, inflation was flat following the 0.3 percent increase in May.
Core CPI, which excludes the volatile costs of food, advanced an annual 2.0 percent on year in May after gaining 2.1 percent in the previous month.
On a monthly basis, core inflation was flat following the 0.3 percent increase in May.
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