South Korea's January inflation rate stable at 1.1%, well below target

SEOUL (AFP) - South Korean consumer prices rose 1.1 per cent in January, well below the central bank's target inflation band.

The on-year increase in the consumer price index was unchanged from the December figure, Statistics Korea said. It marked the 15th straight month that the inflation rate has remained below the central Bank of Korea's target of 2.5 per cent to 3.5 per cent.

Consumer prices for the whole of last year rose just 1.3 per cent from the previous year.

The central bank has held its key policy interest at at 2.5 per cent since May.

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