(LEAD) S. Korea's consumer prices grow 1.1 pct on-year in Sept.

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SEJONG, Oct. 1 (Yonhap) -- South Korea's consumer prices grew at the slowest pace in seven months in September due to falling prices of factory goods and the stabilization of farming goods costs, a government report showed Wednesday.

The country's consumer price index rose 1.1 percent last month from a year earlier, decelerating from August's 1.4 percent gain. This marks the slowest growth pace since February when consumer prices rose 1 percent. The price increase has remained below 2 percent since January last year.

The core inflation, which excludes volatile oil and food prices, rose 1.9 percent on-year, the slowest increase since February when it went up 1.7 percent, the report showed.

"Falling oil prices drove down the prices of factory products, and stabilizing farming goods prices also helped keep the overall prices last month in check," said Kim Bo-kyung, head of the agency's prices statistics division.

The prices of agricultural, livestock and fisheries products dropped 3 percent in September from a year earlier. Those of fresh foods, in particular, fell 8.6 percent, with the prices of cabbage, spinach and onions plunging 33.8 percent, 36.3 percent and 33.7 percent, respectively.

Oil prices fell 5.7 percent on-year in September, which helped stabilize the prices of manufactured products, which inched up 0.9 percent over the same period, the report showed.

The "livelihood price" index, which measures the costs of key daily necessities, rose 0.6 percent, the slowest growth in seven months, the report showed.

Rent and utility service prices such as electricity, tap water and gas rose 2.2 percent and 3.3 percent, respectively, in September from a year earlier, according to the report.

kokobj@yna.co.kr
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