In July, prices of food & non-alcoholic beverages increased by 1.5 percent, compared to a 1.8 percent in a month earlier. It was the lowest food inflation since March. Also, cost rose less for miscellaneous goods & services (0.6 percent from 1 percent in June), while increased at a faster pace for: housing, water, electricity, gas & other fuels (0.8 percent from 0.6 percent); clothing & footwear (1.3 percent from 0.7 percent); furnishings, household equipment & routine maintenance (3.5 percent from 1.8 percent); and transport (4.7 percent from 4.1 percent).
Meantime, inflation was steady for alcoholic beverages & tobacco (0.2 percent); education (1.4 percent); and restaurants & hotels (2.7 percent); while cost was flat for recreation & culture (from 1.2 percent). On the other hand, cost fell for health (-1 percent from 0.1 percent) and communications (-1.5 percent from -0.6 percent).
Core CPI, which excludes oil and agricultural products, increased by 1 percent, after a 1.2 percent gain in June.
For 2018, the Bank of Korea sees inflation at 1.7 percent.
On a monthly basis, consumer prices went up 0.2 percent, following a 0.2 percent drop in June.