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Korea's inflation dips 0.3 pct in May, first fall in 8 months

All News 08:00 June 02, 2020

By Kim Deok-hyun

SEJONG, June 2 (Yonhap) -- South Korea's consumer prices fell 0.3 percent on-year in May, marking the first annual decline in eight months as consumers refrained from spending due to the coronavirus pandemic, data showed Tuesday.

The May tally compares with a 0.1 percent on-year gain in March, according to the data released by Statistics Korea.

The nation's inflation fell 0.2 percent on-month, the data showed.

Core inflation, which excludes agricultural and petroleum products, rose 0.5 percent from a year earlier.

Utility prices fell 0.7 percent on-year last month, while prices of agricultural, livestock and fisheries products climbed 3.4 percent on-year in May, the data showed.

Korea's inflation dips 0.3 pct in May, first fall in 8 months - 1

kdh@yna.co.kr
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