Business News Asia
According to South Korea’s statistics office, the consumer price index (CPI) rose 5.0% year-on-year in November. This is the lowest rate since April 2022 and is below market expectations.
Inflation slowed in November from 5.7% in October and was below market expectations of 5.1%.
Inflation in South Korea has fallen from its 24-year high of 6.3% in July as global energy prices have fallen and the economy has slowed.
The core CPI, which excludes food and energy prices, rose year-on-year to 4.3% in November from 4.2% in October, its highest level since December 2008.
Compared with the previous month, the core CPI fell by 0.1% in November after rising by 0.3% in October.
Since August, the BOK has raised its key interest rate by a total of 2.75% to 3.25%, the highest level in 10 years.