South Korea’s consumer prices rose 5 percent in November from a year earlier, government data showed, marking the slowest pace since April and slightly missing market expectations. | Reuters
“It is a sharp drop from recent couple months and shows inflation has peaked, but the level itself is certainly still very high,” said Kong Dong-rak, an economist at Daishin Securities.
“Market concerns about high inflation are likely to ease to some degree, but the grounds for central bank’s monetary tightening remain intact.” The slowdown was mostly led by agricultural products, which fell 2 percent over a year on improved supply conditions, and petroleum products, which grew at a much slower rate of 5.6 percent than 10.7 percent a month before, the finance ministry said after the data release.
The country’s central bank said in a separate statement the considerable slowdown in November due to high base effects was in line with its expectations. It said inflation is likely to stay around the 5 percent level until early next year, while noting that uncertainty is high in both directions. The core CPI, which excludes volatile food and energy prices, showed annual growth ticking up to 4.3 percent in November from 4.2 percent in October, hitting the fastest since December 2008 and reflecting still elevated underlying inflation pressures.Read Next
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Korea to negotiate with striking truckers again, but gap seen too bigSouth Korea will meet striking truckers for more negotiations as concerns rose over shortages of petrol, pricier groceries and economic damage, and the government invoked a law forcing 2,500 cement industry drivers back to work. | Reuters
Read more »
South Korea orders striking cement truckers back to work - BusinessMirrorSEOUL, South Korea—South Korea’s government issued an order Tuesday for some of the thousands of truck drivers who have been on strike to return to work, insisting that their nationwide walkout over freight fare issues is hurting an already weak economy. Despite facing the threat of delicensing or even prison terms, the strike’s organizers said
Read more »
South Korea scrambles jets as China, Russia warplanes enter air defense zoneSouth Korea’s military says it quickly mobilized fighter jets in response to two Chinese and six Russian warplanes entering its air defense zone. Full story:
Read more »
South Korea scrambles jets after Chinese, Russian warplanes approachSouth Korea&39;s military said it scrambled fighter jets Wednesday as six Russian and two Chinese warplanes entered its air defense zone without notice.
Read more »
Running Man PH: Face your fears! | Teaser Ep. 27The road to the ultimate battle begins! Catch 'Running Man Philippines' this Saturday (December 3), after 'Pepito Manaloto: Tuloy Ang Kuwento' at 7:15 p.m.. Related Content: LOOK: Walk around South Korea with the 'Running Man PH' cast https://www.gmanetwork.com/entertainment/tv/running_man_philippines/15845/look-walk-around-south-korea-with-the-running-man-ph-cast/photo Reasons why you should watch 'Running Man Philippines' https://www.gmanetwork.com/entertainment/tv/running_man_philippines/92171/why-you-should-watch-running-man-philippines/story
Read more »