Consumer prices in South Korea were up just 0.7 percent on year in July, Statistics Korea said on Tuesday.
That was beneath forecasts for 0.8 percent, which would have been unchanged from the June reading.
Core inflation climbed an annual 1.6 percent in July, slowing from 2.0 percent in the previous month.
On a monthly basis, both overall and core CPI added 0.1 percent after showing flat in June.
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