Central bank data showed on Tuesday,South Korea’s composite consumer sentiment index in May slipped to its lowest in eight months, dampening hopes for a firm recovery in domestic consumption in Asia’s fourth-largest economy. The composite consumer sentiment index fell to 105 in May from 108 in April, a survey by the Bank of Korea showed. May’s number was the lowest level since a reading of 102 seen in September last year. Reflecting this, the Bank of Korea lowered its annual inflation forecast for this year to 2.6 percent from 2.7 in its latest forecasts in April.
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