South Korea price index gains 1.0 % in April

Park Sae-jin Reporter() | Posted : May 3, 2016, 10:35 | Updated : May 3, 2016, 10:35

[Courtesy of Statistics Korea]

South Korea's consumer price index gained 1.0 percent on-year in April below the central bank's annual target due to low oil prices, official data showed Tuesday.

The April reading remained unchanged from a 1.0 percent increase in March, according to Statistics Korea. The hike in April was led by higher prices of agricultural and fishery products.

Core inflation, which excludes volatile energy and food prices, rose 1.8 percent on-year in April, compared to a 1.7 percent gain in March. The index rose 0.1 percent on-month in April.

The consumer price index has remained below the one percent level throughout last year, sparking concern about deflation in Asia's fourth-largest economy. It showed signs of a slight rebound this year. The Bank of Korea has kept interest rates on hold at a record low 1.5 percent.

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