S.Korea December inflation at highest for eight months

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The Independent Online

South Korea's December inflation rate was the highest for eight months as the prices of food, alcoholic drinks and clothes rose, official figures showed Thursday.

Statistics Korea said the consumer price index rose 2.8 percent from December 2008, compared to a 2.4 percent year-on-year increase the previous month.

It was the fastest annual gain since 3.6 percent in April.

Month-on-month, prices rose 0.4 percent compared with an 0.2 percent increase in November.

For the full year prices rose 2.8 percent, staying within the central bank's target range of 2.5 percent to 3.5 percent. The bank's inflation target range for the next three years is between 2.0 percent and 4.0 percent.