The headline inflation continued to slow from 1.3 percent in December last year to 0.8 percent in January and 0.5 percent in February after peaking at 2.0 percent in November last year, according to Statistics Korea.
The March figure was the lowest in 32 months since July 2016. It was attributable to lower prices for vegetable and oil product.
Oil product price declined 9.6 percent in March from a year earlier, pulling down the overall consumer price inflation by 0.43 percentage points.
Vegetable price tumbled 12.9 percent, dragging down the inflation by 0.21 percentage points. Services price gained 1.1 percent last month, lifting the overall inflation by 0.58 percentage points.