SEOUL : South Korea's annual consumer inflation softened in August for the first time in seven months and by a greater degree than expectations, government data showed on Friday.
The consumer price index rose 5.7 per cent in August from the same month a year ago, according to the Statistics Korea data, slower than 6.3 per cent in July and 6.1 per cent tipped in a Reuters poll of economists.The CPI declined 0.1 per cent on a monthly basis, falling for the first time since November 2020 and also lower than a 0.3 per cent rise seen in the survey.
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