South Korea Inflation Rate Up to 0.9% in November

In November of 2013, South Korean headline CPI slightly accelerated to an annual 0.9 percent, after reaching a 14-year low in September. Although November figure was higher than a month earlier, the inflation rate stayed in the zero percent range for the third consecutive month and well below the Central Bank target.

Year-on-year, food prices dropped 0.9 percent, following the 1.28 percent decline in the previous month. Transport cost declined 1.1 percent, after contracting 1.4 percent in October. and communication prices decreased 0.1 percent. Cost of clothing and footwear rose the most on the year (3.8 percent), followed by prices of housing, water, electricity and gas (3.4 percent). 

On a monthly basis, the index for alcoholic beverages and tobacco and education increased 0.1 percent respectively in November. Prices of clothing and footwear, housing, water, electricity, gas and other fuels, furnishings, household equipment and routine maintenance and miscellaneous goods and services went up 2.4 percent, 0.4 percent, 0.7 percent and 0.2 percent respectively. Cost of food and non-alcoholic beverages, transport and recreation and culture decreased 1.6 percent, 0.6 percent and 0.9 percent in November. The index for health, communication and restaurants and hotels remained unchanged.

Core inflation rate, which excludes agricultural products and oils increased 0.3 percent from the preceding month and rose 1.8 percent from November of 2012.

South Korea Inflation Rate Up to 0.9% in November

Statistics Korea | Joana Taborda |
12/2/2013 10:34:24 AM