South Korea Aug inflation hits record low, 2Q GDP downgraded

South Korea's year-on-year inflation in August dipped to an all-time low as...

FILE PHOTO: A saleswoman reads a newspaper as she waits for customers in front of hair products at a supermarket in Seoul April 27, 2011. REUTERS/Truth Leem/File Photo/File Photo

The consumer price index was unchanged in August from a year earlier, Statistics Korea data showed on Tuesday, missing a 0.2% rise tipped in a Reuters survey and marking the lowest since the country began releasing inflation data in 1965. The weak inflation and economic growth data add to concerns about a deflation risk for Asia’s fourth-largest economy, despite assurances from top policymakers that inflation would soon pick up to 1%.

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