South Korea Inflation Adds 0.1% In March

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South Korea Inflation Adds 0.1% In March

(RTTNews) - Overall consumer prices in South Korea were up a seasonally adjusted 0.1 percent on month in March, Statistics Korea said on Tuesday.

That was shy of expectations for an increase of 0.3 percent and down from 0.5 percent in February.

On a yearly basis, inflation was up 3.1 percent - in line with expectations and unchanged from the previous month.

Core CPI, which excludes the volatile costs of food, rose 0.1 percent on month and 2.4 percent on year - easing from 0.3 percent on month and 2.5 percent on year in February.

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The Bank of Korea left its interest rate unchanged on Thursday as economic growth improved moderately despite high uncertainty surrounding the outlook. The Monetary Policy Board decided to hold the Base Rate at 2.50 percent. The central bank had previously lowered the benchmark rate by a quarter-point each in May and February.
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