For the first time on record,... South Korea's consumer price growth dropped into the negative range in September.<br />But despite the worrying drop below zero percent growth,... the government is dismissing concerns over deflation.<br />Choi Si-young reports.<br />Statistics Korea revealed Tuesday that South Korea's overall consumer price growth recorded minus point-four percent in September compared to the same month last year,... something that has never happened since the agency began collecting related data in 1965.<br />Since January this year,... consumer inflation in South Korea has remained below one percent.<br />The agency said last month's fall is only a temporary blip due to government efforts to provide free education at all high schools and because more diseases are now covered by state health insurance.<br />Lower agricultural, fishery and oil prices also dragged on growth.<br />In particular, agricultural goods prices tumbled by around eight percent on-year due to the relatively stable weather in South Korea this summer.<br />Oil prices were down about six percent.<br />At an economic policy meeting on Tuesday, the finance ministry and the central bank insisted the weak inflation data seen in recent months isn't enough to trigger deflation concerns just yet.<br />Vice Finance Minister Kim Yong-beom pointed to South Korea's improving consumer sentiment index as a reason to be relatively optimistic for a turnaround before too long.<br />Choi Si-young, Arirang News.<br />
