South Korea’s consumer prices moved up 0.4 percent in March from a year earlier on a rise in utility and service charges, government data showed Tuesday.
The reading marks the lowest increase since July 1999, when the country’s consumer prices rose 0.3 percent, Statistics Korea said.
From a month earlier, the index fell 0.2 percent.
“The biggest reason behind lower consumer prices is a decline in petrochemical products amid low oil prices,” said Kim Yun-sung, director of Statistics Korea’s price statistics division.
Prices of petrochemical products fell 9.6 percent in March from a year earlier.
Utility prices rose 1.3 percent on-year last month, while prices of industrial goods fell 0.7 percent, the statistics agency said.
The statistical agency also said prices of service charges increased 1.1 percent. (Yonhap)