September Consumer Prices Fall Below 1% Level
September Consumer Prices Fall Below 1% Level
  • Korea IT Times (info@koreaittimes.com)
  • 승인 2013.10.04 18:14
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SEOUL, KOREA- Monthly consumer prices have declined to a level below 1.0 percent in 14 years. According to a report "September 2013 Consumer Price Trend" published by the Korea Statistical Office on October 1, the consumer prices in September rose 0.8 percent from the same month in 2012. 
 
This is the lowest level since September 1999 when the figure was the same 0.8 percent. The monthly consumer price levels had remained at the low 1-percent level for the past ten months in a row.
 
The Ministry of Strategy and Finance said this is largely due to the base effect last year when the prices were brought up high because of Typhoons and oil price hikes. But the ministry said it will be hard for the below-1-percent consumer prices to go on for months. That's because the decline was primarily owing to one-time factors such as a fall in prices of farm goods and oil products.
 

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