© Reuters. Women eat fried hen at a Han river park in Seoul, South Korea, April 26, 2022. Picture taken April 26, 2022. REUTERS/Kim Hong-Ji/File Photo
SEOUL (Reuters) – South Korean inflation is more likely to ease in November to about 3.6% as costs of agricultural merchandise have began to fall, the finance minister mentioned on Sunday.
South Korea’s client worth index stood 3.8% increased in October from a yr in the past, the quickest inflation charge since March 2023 and above the three.6% forecast by a Reuters ballot.
“Oil prices have been falling a little bit recently. If this is the trend, the inflation rate will be around 3.5% to 3.6%, and this kind of price stabilisation will happen gradually, albeit slowly,” Finance Minister Choo Kyung-ho instructed public broadcaster KBS TV.
Consumer inflation accelerated for a 3rd month in October amid increased meals prices, protecting policymakers on edge as they’re monitoring whether or not present rates of interest are tight sufficient to carry inflation to heel.