Statistics Korea announced on Friday that consumer prices in South Korea increased by 2.8 percent year-on-year in January. This slightly missed the expected growth of 2.9 percent and represented a decrease from the 3.2 percent rise recorded in the previous month.
In terms of monthly increases, consumer prices went up by 0.4 percent, which met the anticipated forecasts, snapping the flat growth observed in December.
Furthermore, the Core Consumer Price Index (CPI), which discounts the impact of fluctuating food prices, demonstrated a monthly and yearly growth of 0.4 percent and 2.5 percent respectively. This is a downturn from the previous month's increases of 0.2% monthly and 3.4% annually.
