seoul - South Korea 's inflation slowed to 1.2 percent on-year in April, reflecting falling oil and vegetable prices, government data showed Wednesday.
The inflation rate was 0.1 percentage point down from a 1.3 percent on-year gain in the previous month, Statistics Korea said. It remained at the subdued 1 percent level for a sixth consecutive month, well below the central bank's target band.
Core inflation , which excludes volatile oil and food prices, rose 1.4 percent on-year in April, down from a 1.5 percent rise in the previous month.
The finance ministry said falling prices of oil and vegetables helped stabilise the consumer price index.
Inflation in April stayed comfortably below the central Bank of Korea 's target range of 2.5-3.5 percent, leaving room for further monetary easing to spur growth.
Minutes released on Tuesday showed the BOK's monetary policy board had cast a 4-3 vote to keep the benchmark interest rate steady at 2.75 percent in April for a sixth straight month, with three members calling for a rate cut.
In a separate Dow Jones survey, six of eight analysts expected the BOK to stand pat on rates through 2013.