Green Asia

South Korea Nov consumer inflation +3.3% y/y, weaker than expected

SEOUL : South Korea’s annual consumer inflation weakened in November after three straight months of accelerating, and it was way below market expectations.

The consumer price index (CPI) stood 3.3 per cent higher than the same month the year before, after a rise of 3.8 per cent in October, official data showed on Tuesday. That compared with a median 3.7 per cent rise tipped in a Reuters survey.

The index fell 0.6 per cent on a monthly basis, marking its first fall since November 2022 and the sharpest drop since October 2020.

Core CPI, which excludes volatile food and energy prices, rose 3.0 per cent over a year, slower than a rise of 3.2 per cent in the previous month and the slowest since March 2022.

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