In May, prices rose at a softer pace for: food & non-alcoholic beverages (2.5 percent from 2.9 percent in April); clothing & footwear (0.9 percent from 2.1); housing, water, electricity, gas & other fuels (0.7 percent from 1.1 percent); health (0.4 percent from 0.5 percent); and miscellaneous goods & services (0.5 percent from 0.8 percent). Meantime, inflation was steady for alcoholic beverages & tobacco (0.2 percent); and restaurants & hotels (2.7 percent), while increased at a faster rate for: furnishing, household equipment & routine maintenance (3.1 percent from 3 percent); transport (2.6 percent from 1.6 percent); recreation & culture (1.2 percent from 0.3 percent); and education (1.4 percent from 1.3 percent). On the other hand, cost continued to decline for communication (-0.3 percent from -0.2 percent).
For 2018, the Bank of Korea sees inflation at 1.7 percent.
Core CPI, which excludes oil and agricultural products, increased by 1.3 percent, after a 1.4 percent gain in a month earlier.
On a monthly basis, consumer prices went up 0.1 percent, the same as in the previous month.