SEOUL: South Korea's consumer prices in May rose faster than expected and at their fastest annual pace in nearly 14 years, government data showed on Friday.

       The consumer price index (CPI) rose 5.4% in May from a year before, the Statistics Korea data showed, speeding up from a 4.8% rise the previous month and faster than 5.1% tipped in a Reuters poll.

       It was the fastest annual growth since August 2008 and stood above the central bank's 2% target for a 14th consecutive month.

       The core CPI, which excludes volatile food and energy prices, rose 3.4%, marking the fastest rise since February 2009. - Reuters