South Korea May inflation weakest in 5 months, below forecast
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Women shop for green onions at a market in Seoul, South Korea, March 26, 2024. REUTERS/Kim Daewoung/File Photo
SEOUL (Reuters) -South Korea's consumer inflation slowed in May to the weakest pace in five months, government data showed on Wednesday, coming in below market expectations.
The consumer price index rose 1.9% in May from a year earlier, after rising 2.1% in April, according to Statistics Korea.
It was the weakest since December 2024 and lower than the median 2.1% rise tipped in a Reuters poll of economists.
The Bank of Korea lowered interest rates last week for a fourth time in its current easing cycle to support an economic recovery clouded by U.S. tariffs, with four of its seven board members open to more cuts in the next three months.
(Reporting by Jihoon Lee; Editing by Leslie Adler)
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