SEOUL, June 2 Reuters South Korea39;s consumer inflation eased for a fourth consecutive month in May to the lowest in 19 months but core inflation remained elevated, clouding views on whether the central bank may start to cut interest rates soon to boost economic growth.

The consumer price index CPI rose 3.3 in May yearonyear, Statistics Korea data showed on Friday, in line with the forecast in a Reuters analysts survey and slowing from a 3.7 rise in the previous month.

It was the slowest rise since October 2021, having peaked at a near 24year high of 6.3 in July 2022.

On a monthly basis, CPI rose 0.3 in May, after a 0.2 increase in April, extending its run of gains to a sixth consecutive month.

The finance ministry said after the data release that inflation would continue to stabilise.

However, the central bank said the inflation outlook was highly uncertain, citing risks from global oil prices, economic growth and public utility price increases.

By product, agricultural prices rose 0.5 in May monthonmonth, while utility prices jumped 2.2. Petroleum products dropped 1.4, however, dragging the annual rate lower.

Core inflation is starting to soften, but it is still at high levels and will not cause any meaningful change in the central bank39;s policy stance that is trying to keep interest rates at restrictive levels, said Ahn Jaekyun, fixed income analyst at Shinhan Securities.

The Bank of Korea last week flagged it may not be done tightening, after it held…