Consumer prices grew 0.7 percent on-year in October, the slowest pace in 14 years, the statistical office reported Friday.
The report of Statistics Korea attributed the slowest consumer price growth since July 1999 to a drop in agricultural product prices caused by a bumper crop amid good weather conditions.
The figure marked the slowest consumer price growth since July 1999 when the pace of growth stood at 0.3 percent.
In October, the country saw the consumer price growth stay below 1 percent for the second straight month.
The October figure compares with a 0.8 percent on-year gain tallied in September, 1.3 percent in August and 1.4 percent in July.
Copyright ⓒ Aju Press All rights reserved.