The consumer price index rose 0.6 percent in May from the previous year, marking its biggest growth since March 1998, the government said Friday, providing further evidence that the economy is moving out of deflation.
The core nationwide CPI, excluding perishables, came to 98.5 in May against the base of 100 for 2000. The rise marked the seventh-consecutive monthly increase, the Internal Affairs and Communications Ministry said in a preliminary report.
The increase matched the average market projection of a 0.6 percent rise.