Korean consumer prices grow 3.7% in April

Customers shop at a discount mart in Seoul on May 1. [YONHAP]

 
Korea’s consumer prices jumped 3.7 percent on year in April, rising at the slowest pace in more than a year.
 
The figure was down from the 4.2 percent on-year growth in March, according to Statistics Korea Tuesday.
 
It was the first time that on-year inflation growth fell below 4 percent since February last year. Inflation peaked at 6.3 percent last July.
 
The slow in growth was influenced by the declining oil prices. The price growth for agricultural products also slowed.
 
Core inflation, which excludes the volatile food and energy sectors, remained strong at 4.6 percent on year in March, but was down slightly from 4.8 percent a month earlier.

BY JIN MIN-JI [jin.minji@joongang.co.kr]