S. Korea's Consumer Price Index inflation rate 0.0% y/y in June: Statistics Korea
Updated: 2020-07-02 08:44:01 KST
South Korea's inflation rate remained at zero percent in June, despite the government paying out emergency disaster relief funds to encourage spending.
According to Statistics Korea on Thursday, the Consumer Price Index for June stood at 104.87, unchanged compared to the same month last year.
This ended the negative growth shown in May, but failed to rise above zero.
Statistics Korea says the government's cash handouts pushed agricultural food prices up, but that was cancelled out by a fall in global oil prices.
The Bank of Korea Governor Lee Ju-yeol said last week he expects consumer price inflation to stay near zero percent for the time being.