South Korea consumer inflation hits five month low in January as prices return to central bank target

South Korea's consumer price index rose 2.0 percent from a year earlier in January, marking the slowest year-on-year increase since August. The latest reading, reported by the Ministry of Data and Statistics, represents a five-month low and compares with a 2.3 percent gain recorded in the previous month. On a monthly basis, the index rose 0.4 percent in January following a 0.3 percent increase the month before. January marked the fifth month since August where the year-on-year rise was at this level, following four months where inflation remained above the medium-term target set by the Bank of Korea.