Consumer prices were up just 0.8 percent on year in January, Statistics Korea said on Tuesday – slipping back beneath 1.0 after two months. Inflation had been below that figure for 10 straight months prior to November.
The headline figure missed forecasts for 0.9 percent and was down from 1.3 percent in December.
On a monthly basis, inflation was flat following the 0.3 percent gain in the previous month.
Core inflation, which excludes the volatile costs of food, added 0.2 percent on month and 1.7 percent on year. That’s unchanged on month and down from 2.4 percent on year in the previous month.
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