S. Korea’s inflation further eases in July

South Korea’s on-year consumer price growth slowed for the sixth straight month in July, staying below 2 percent, data showed Wednesday.

Consumer prices, a key gauge of inflation, rose 2.3 percent last month from a year earlier, compared with a 2.7 percent increase in June, according to the data from Statistics Korea.

In June, inflation fell below 3 percent for the first time since September 2021.

Last month, the Bank of Korea kept its key interest rate unchanged at 3.5 percent for the fourth straight time. The central bank delivered seven consecutive rate hikes from April 2022 to January 2023.

Source: Yonhap News Agency