SEOUL, Aug 4 (Reuters) – South Korea’s consumer inflation weakened to a three-month low in July, coming in below market expectations on a fall in oil prices, government data showed on Tuesday.
The consumer price index rose 2.8% in July from a year earlier, after rising 3.2% in June, according to the Ministry of Data and Statistics. That was weaker than a median 3.0% increase tipped in a Reuters poll of economists.
The index fell 0.2% over the month, as prices of petroleum products dropped 5.5%. Economists had expected a rise of 0.1%, the same pace as in the previous month.
(Reporting by Jihoon Lee; Editing by Edmund Klamann)
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