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Consumer prices forecast to remain stable, deputy finance minister says

2018/03/09 09:19

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SEOUL, March 9 (Yonhap) -- South Korea's consumer prices are expected to remain stable going forward, but the country needs to guard against a possible rise in inflationary expectations, a senior government official said Friday.

The country's consumer price index climbed 1.4 percent last month from a year earlier, accelerating from the previous month's 1 percent on-year gain, according to the data compiled by Statistics Korea.

From a month earlier, the index also increased 0.8 percent in February.

Core inflation, which excludes volatile oil and food prices, grew 1.2 percent compared with last year.

In a policy meeting, Deputy Finance Minister Ko Hyung-kwon said the nation's inflation rate is being maintained at a below 2 percent target.

"The government will also rein in a hike in public service fees as part of efforts to stabilize consumer prices," Ko said.