South Korea inflation slows but still near central bank's 2% target

Seoul

SOUTH Korea's annual inflation eased slightly in April as utility and fresh food costs fell, data showed on Tuesday, with prices still reflecting improving consumption and the economy's ongoing recovery.

The finance ministry said chances of inflation picking up was limited in the near term due to recent changes in global oil prices and improved supply of farm products. Economists also expect no change to near-term monetary policy with annual inflation lingering near the central bank's 2 per cent target.