India, June 4 -- South Korea's inflation softened more than expected to a five-month low in May, Statistics Korea reported Wednesday.
The consumer price index registered an annual increase of 1.9 percent in May after rising 2.1 percent in April.
A similar lower rate was last reported in December. Economists had forecast consumer prices to rise at a steady pace of 2.1 percent.
Core inflation that excludes prices of food and energy, slowed marginally to 2.0 percent from 2.1 percent in April.
On a monthly basis, the CPI edged down 0.1 percent, offsetting April's 0.1 percent rise.
The Bank of Korea had reduced its benchmark rate by a quarter-point in May in order to mitigate downside pressure on the economy. The bank had projected consumer...