South Korea's inflation rate was the lowest for more than 12 years in August, official figures showed Monday, raising prospects of an imminent interest rate cut.
The consumer price index rose 1.2 percent year-on-year last month, the slowest pace since the 1.1 percent of May 2000, Statistics Korea said.
The figure compared with a 1.5 percent increase in July.
Core inflation, which excludes volatile energy and food prices, stood at 1.3 percent year-on-year in August, up from the 1.2 percent figure posted the month before.
The government data was released 10 days before the central Bank of Korea is due to meet to discuss a possible interest rate cut amid signs of cooling economic growth.
In its last meeting August 9, the central bank's monetary policy committee had kept the benchmark seven-day repo rate unchanged at 3.0 percent.