South Korea's consumer price growth in March showed the slowest increase in five months, easing down market concerns over price hikes which may slow the nation's economic recovery, the Statistics Korea said in a report Thursday.
According to the report, the consumer price index (CPI) year-on- year rose 2.3 percent in March, the smallest growth since last October, which registered a 2-percent rise.
The March CPI gain also marks the second consecutive month to remain in the 2-percent level, as the nation saw a 3.1-percent growth in January, which was the highest level since April last year before decelerating to 2.7 percent in February, the report added.
The statistics agency said a rise of prices in vegetables and fishery products were offset by relatively low price increases in manufactured goods and the service sector, resulting in a slowing price hike.
In the meantime, the South Korean government said it will keep its expansionary macroeconomic policy and eased monetary measures to sustain economic growth, and the Bank of Korea also kept its key interest rate at a record low of 2 percent for the 13th consecutive month in an attempt to continue the country's economic recovery./.