SEOUL - South Korea's inflation eased for a second consecutive month in February to a 14-month low as the government pushed to curb price rises, official figures showed Friday.
The consumer price index increased 3.1 per cent year-on-year and 0.4 per cent month-on-month, Statistics Korea said, compared to 3.4 per cent and 0.5 per cent in January.
Core inflation, which excludes volatile energy and food prices, rose 2.5 per cent year-on-year in February and 0.1 per cent month-on month - compared to 3.2 per cent and 0.3 per cent in January.
The statistical office said falls in public service charges and meat products partly offset rises in petroleum products, industrial goods, private services and rent-related costs.
The government has made controlling inflation its top economic priority. Last year consumer prices rose 4 per cent from a year earlier, the upper ceiling of the central bank's 2-4 per cent target band.
Officials expect inflationary pressure to decrease this year, with the rate projected at 3.2 per cent for the whole of 2012.