S. Korea's consumer prices rise 3.7 pct in Jan.

SEOUL, Feb. 2 (Yonhap) -- South Korea's consumer prices grew at a slower pace in
January than in the previous month as falling crude oil prices cut import costs,
a government report showed Monday.

The consumer price index rose 3.7 percent last month from a year earlier, slowing
down from a 4.1 percent on-year advance in the previous month, according to the
report by the National Statistical Office.
Compared to the previous month, consumer prices dropped 0.1 percent.
According to the report, eased inflationary pressure stemmed largely from a drop
in prices for oil products like liquefied petroleum gas and kerosene, which fell
1.7 percent vis-a-vis December. Outlays related to housing and utilities also
fell off 0.3 percent along with prices for miscellaneous goods, which dropped 0.2
percent compared to the previous month.
Prices of groceries, however, moved up 2.1 percent due to seasonal conditions,
with medical outlays moving up 1.1 percent.
In 2008, South Korea's consumer prices moved up 4.7 percent annually as a result
of skyrocketing energy and raw material prices.
yonngong@yna.co.kr
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