South Korea exports down, inflation slows

South Korea's exports fell slightly last month from a year earlier while inflation dipped to its lowest rate for 14 years, government data showed Tuesday. Exports in September dropped 1.5 percent year-on-year to $44.74 billion, largely as a result of the three-day Chuseok (Thanksgiving) holiday, the Ministry of Trade, Industry and Energy said. The trade surplus actually widened to $3.71 billion, up from $3.07 a year earlier, as imports fell 3.6 percent on-year to $41.03 billion. Consumer prices grew at their slowest pace for 14 years in September, thanks to falls in farming costs, Statistics Korea said. The consumer price index rose 0.8 percent on-year, compared to a 1.3 percent gain in August.