Consumer prices up 2.8% in July; oil price hike slows

South Korea's consumer prices rose 2.8 percent in July from a year earlier as oil prices remained elevated, though their rate of increase slowed, data showed Tuesday, with inflation falling below the 3 percent mark for the first time in three months. According to data from the Ministry of Data and Statistics, the increase slowed from a 3.1 percent and 3.2 percent on-year rise posted in May and June, respectively. Consumer price growth apparently slowed in July from a month earlier as oil prices