S. Korea's consumer prices grow 1.2% on-year in April

South Korea's consumer prices increased at a slower pace in April than a month earlier, keeping its on-year growth in the 1-percent range for the sixth straight month, a government report showed Wednesday.

The country's consumer prices index rose 1.2 percent on-year in April, slowing from a 1.3 percent on-year gain in the previous month, according to the report by Statistics Korea. From a month earlier, it dropped 0.1 percent.

The on-year figure represents the sixth straight month since November that the price growth has stayed in the 1-percent range.

The core inflation, which excludes volatile oil and food prices, rose 1.4 percent on-year in April, the report showed.

The so-called "livelihood price" index that measures the costs of key daily necessities inched up 0.7 percent on-year in April.

The index has stayed below 1 percent for five straight months, the report showed.

Prices of fresh food, including fruits and vegetables grew 1.9 percent last month from a year earlier. Fruit prices dropped 3 percent on-year but vegetable prices jumped 10.6 percent over the same period, the report showed.

Factory product prices inched up 0.2 percent on-year in April, with the prices of oil-related products dropping 5.3 percent.

Electricity, tap water and heating gas costs, however, rose 5.9 percent last month, indicating that high utility bills remain a drag on many consumers.

South Korea's inflation has stayed subdued over the past few years. The government still has placed its top priority on stabilizing prices amid worries that inflation could hurt the livelihoods of working-class people and the overall economy. (Yonhap News)