South Korea’s inflation rate slowed in September as food price gains eased.
The government’s Statistics Korea said Tuesday the consumer price index increased 4.3 percent from the same month last year following a gain of 5.3 percent in August. That result was the highest in three years.
September’s result snapped three months of accelerating inflation. But inflation is still above the outer limit of the central bank’s “tolerance range” of 4 percent.
The Bank of Korea has raised its benchmark interest rate five times since July 2010 to fight inflation.
Core inflation also slowed in September, increasing 3.9 percent from the year before after rising 4 percent in August. The measure strips out volatile agriculture and oil prices.
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