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South Korea's Annual Inflation Rate Cools to 2.8% in July

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South Korea's annual inflation rate decelerated to 2.8% in July from 3.2% in June, according to data from the Ministry of Data and Statistics published Tuesday.

The latest print was lower than the consensus forecast of 3%, according to Investing.com.

On a monthly basis, the all-items consumer price index was down 0.2%, reversing the 0.1% increase between May and June.

Meanwhile, the country's core inflation rate, which excludes food and energy prices, rose to 2.6% from 2.5% in June.

Month over month, core consumer prices inched up 0.4%, versus a flat reading the previous month.

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