South Korea's consumer prices remained stable in July, posting growth below one percent for the seventh consecutive month.

According to Statistics Korea on Thursday, consumer prices increased point-six percent in July from a year earlier.  

Consumer price growth has not exceeded one percent for seven consecutive months, the longest such streak since a ten-month period from February to November in 2015.

From a month earlier, the consumer price index fell point-three percent. 

Prices of agricultural, livestock and fisheries products dropped point-three percent last month from a year earlier, while prices of petroleum products fell five-point-nine percent on-year.  

Lee Doo-won, director at the agency's price statistics division, said that the continued low growth in consumer prices is considered "disinflation," not "deflation," as it was due to external factors and policies and not the result of a decrease in overall demand.