South Korea's inflation rate was ranked near the bottom among Organization for Economic Cooperation and Development(OECD) member states.

According to OECD data on Monday, South Korea's inflation came in at point-four percent last year. The figure was the lowest to be posted for South Korea since related statistics were first compiled, and it places South Korea 33rd among the 36 OECD members in terms of inflation.  

South Korea’s inflation rate was lower than the point-five percent of Japan, which had suffered deflation over a long period of time during the 1990s.  

In 2017, South Korea ranked 15th among OECD members with its inflation standing at one-point-nine percent. But the figure slipped to one-and-a-half percent in 2018, lowering South Korea’s ranking to 26th.  

Experts say the nation’s inflation could slip further amid a drop in consumption due to the novel coronavirus.