Consumer prices in South Korea rose zero-point-five percent year-over-year in February, marking the lowest increase in over 15 years.
Data from Statistics Korea showed on Tuesday that consumer prices have risen less than one percent for three months in a row as they grew 0.8% each in December and January, according to Korea's (KBS WORLD) website.
Statistics Korea attributed the slow growth to a 5.3% drop in the prices of petroleum-related products due to a decline in international oil prices.
Industrial goods fell 0.8% while electricity, water and gas prices dropped 2.5%. Prices of agricultural and livestock goods inched up 1.1% and services rose 1.5%.