Seoul: South Korea`s inflation rate hit its lowest point for nine months in November, as the plunge in global oil prices forced a drop in transport costs, state data showed Tuesday.
Consumer prices rose 1.0 percent from a year ago, compared to 1.2 percent growth in October, state-run Statistics Korea said.
The core consumer price index, excluding volatile energy and food prices, rose 1.6 percent compared to 1.8 percent growth in October.
Public transport costs were down 3.4 percent from a year ago, while entertainment and cultural activity costs fell 0.5 percent.
Prices for liquor and cigarettes also fell 0.2 percent from a year earlier.
Inflation has remained well under the central Bank of Korea`s target of 2.5 to 3.5 percent, even as the bank has cut its key interest rate to a record-equalling low of 2.0 percent.
The 2013 rate for Asia`s fourth-largest economy stood at 1.3 percent -- the slowest for 14 years.
