South Korea’s consumer price growth rate stayed below 1 percent for the third straight month in November, helped by a drop in prices of farming products, the country’s statistical office reported Monday.
The consumer price index (CPI) rose 0.9 percent on-year in November, slightly higher than a growth rate of 0.7 percent tallied in the previous month, according to Statistics Korea.
As a result, the CPI growth stayed below 1 percent between September and November, marking the slowest pace of growth since the July-September period of 1999.
Prices of fresh food, such as vegetables and fruits, fell 8.5 percent in November from the same month of last year, the report said.
Prices of vegetables and fruits plunged 14.8 percent and 7.4 percent over the cited period, respectively.
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