Korea: Inflation increases in November but remains muted
Latest reading: Inflation edged up to 1.5% in November from October’s 1.3%, but undershot market expectations. Looking at the details of the release, prices for housing and utilities increased at a quicker rate in November while prices for transportation declined at a less pronounced rate. In contrast, food and non-alcoholic beverages plus recreation and culture prices grew at a more subdued pace.
Annual average inflation fell to 2.4% in November (October: 2.6%). Meanwhile, core inflation rose to 1.9% in November from October’s 1.8%.
Finally, consumer prices fell 0.25% in November over the previous month, contrasting the 0.03% rise recorded in October. November’s result marked the weakest reading since November 2023.