S. Korea's consumer price inflation stays below 1 percent for 3 months

South Korea's consumer price inflation stayed below 1 percent for the third straight month due to a fall in farm goods and oil product prices, a government report showed Monday.Consumer prices rose 0.9 percent in November from a year earlier after gaining 0.7 percent in the prior month, according to Statistics Korea. From a month earlier, the prices fell 0.1 percent after sliding 0.3 percent in the previous month.The November figure was higher than a month earlier, but it marked the first time in around 14 years that the consumer price inflation stayed in the zero percent range for the third consecutive month, after peaking at 1.4 percent in July.The low level of headline inflation came after farm product prices kept its downward trend amid rising supply of fruits, vegetables and livestock products.china bearingPrices for agricultural, fishery and livestock products declined 2.6 percent in November compared with the prior month. Fruit and vegetable prices tumbled 5.4 percent and 5.3 percent, respectively, and livestock product prices slid 2.1 percent.Among the biggest decliners were cabbage, pork and apple, whose prices plunged 34.5 percent, 5.3 percent and 6.7 percent each in November from a month earlier.Prices for industrial goods, including oil products and processed food, gained 0.4 percent in November as textile goods prices climbed 2.8 percent due to strong demand for winter clothes. Oil product prices fell 1.1 percent due to the local currency's appreciation against the U.S. dollar that led to lower imported prices of crude oil. 

The won/dollar exchange rate fell to 1,Vintage tubs056.4 won on Nov. 19, nearing to this year's low of 1,054.3 won. The won surged to the highest in around five years against the Japanese yen on Nov. 22.Prices for electricity, tap water and gas increased 1.1 percent in November from the prior month due to the hike in electricity prices. The country lifted power prices by an average 5.4 percent last month to curb excessive power consumption.The so-called livelihood prices, which reflect the costs of key daily necessities, rose 0.2 percent in November from a year earlier after falling 0.3 percent in the previous month. From a month earlier, the prices slid 0.2 percent.Fresh food prices, which gauge prices of vegetable and fruit, sank 8.5 percent last month from the same month of last year. From a month ago, the prices declined 3.8 percent.Core consumer prices, which exclude farm goods and petroleum products, climbed 1.8 percent in November from a year ago, staying in the medium and high 1 percent range this year.The Finance Ministry said in a separate report thaAntique bath fixturest the headline inflation would rise above 1 percent down the road, citing lower temperatures that will lead to higher farm goods prices along with higher global crude prices.