\South Korea's headline inflation showed a stable picture last month on slower increase of farm goods prices that offset higher oil product costs coming from expensive global crude oil, a government report showed Tuesday.

Consumer price rose 1.5 percent in June from a year ago, according to Statistics Korea. The consumer price inflation hovered below 2 percent for the ninth consecutive month, after staying above the level from July to September last year.

The June consumer price inflation hovered below the Bank of Korea (BOK)'s mid-term inflation target of 2 percent, lowering pressure on the central bank to raise its policy rate rapidly.

The BOK was widely forecast to raise its benchmark interest rate in the near future from the current 1.5 percent as the U.S. Federal Reserve lifted its target rate in June to a range of 1.75-2.00 percent.

The South Korean central bank refrained from altering the benchmark rate since it raised it to the current level in November last year, the first rate increase in almost six and a half years.

The stable inflation came as the rising pace of farm goods price slowed down. Price for agricultural product gained 6.7 percent in June, after picking up 9 percent in the previous month.

Vegetable price rose 6.4 percent in June from a year earlier, slowing from a 13.5 percent advance in May.

Price for livestock products sank 7.4 percent last month, pulling down the overall headline inflation by 0.2 percentage points.

Prices for agricultural, livestock and fishery products marked the lowest increase in five months.

Egg price plunged 42 percent, with those for onion and chicken posting a double-digit decline. Potato price added 8.1 percent in June, after surging 59.1 percent in the prior month.

Rice price jumped 34 percent in June on lack of inventory, keeping a double-digit increase for eight straight months. Small octopus price soared 43.1 percent on the decrease of catch.

Meanwhile, oil product price jumped 10 percent on expensive crude oil, pulling up the overall headline inflation by 0.44 percentage points. It was the fastest increase in 14 months.

Diesel cost surged 12.3 percent in June from a year earlier, marking the highest since April last year.

Influenced by higher oil product costs, industrial product price gained 1.8 percent. Transport cost also advanced 4.1 percent, the highest since May last year.

Energy costs for households were widely forecast to rise in the coming months on higher crude oil price. City gas cost would be increased by 4.2 percent from July, according to the finance ministry.

The so-called livelihood price index, which reflects costs for daily necessities, added 1.4 percent in June from a year earlier.

The fresh food index, which measures costs for fresh fruit, vegetable, fish and shellfish, climbed 2 percent in June, after growing 4.5 percent in the previous month.

Services price went up by a double digit for the fourth consecutive month as wage for housekeepers jumped 10.7 percent last month.