South Korea Inflation Rate Falls to 11-Month Low

Consumer prices in South Korea increased 1.3 percent year-on-year in November of 2017, easing from a rise of 1.8 percent in October and below market expectations also of 1.8 percent. It was the lowest inflation rate since December of 2016 amid lower prices of utilities and foods.

Year-on-year, prices rose at a softer pace for housing utilities (0.3 percent from 1.8 percent); food and non-alcoholic beverages (0.5 percent from 1.7 percent); health (0.3 percent from 0.6 percent) and alcoholic beverages and tobacco (1.4 percent from 1.6 percent). Also, inflation eased for miscellaneous goods and services (2.5 percent from 3.1 percent) and furnishings, household equipment and routine maintenance (1.7 percent from 1.9 percent). In addition, prices fell for recreation and culture (-0.9 percent from 0.3 percent).

In contrast, consumer prices increased faster for restaurants and hotels (2.6 percent from 2.5 percent), while they rose at the same pace as in the previous month for clothing and footwear (1.1 percent); transport (3.6 percent) and education (1.0 percent).

Annual core inflation, which excludes volatile items such as energy and food went down to 1.4 percent from 1.6 percent.

On a monthly basis, consumer prices fell 0.7 percent, following a 0.2 percent decrease in the previous month.

South Korea Inflation Rate Falls to 11-Month Low

Statistics Korea | Marta Dubiel |
12/1/2017 3:48:16 PM