Korea: Inflation comes in at highest level since January 2012 in October
November 2, 2021
Consumer prices increased 0.13% over the previous month in October, below the 0.50% rise logged in September. October's result marked the softest rise in prices since June. Looking at the details of the release, food and non-alcoholic beverages prices dropped in October compared to the previous month. Moreover, prices for communication also slumped in October. Contrastingly, prices for transportation, recreation and culture and restaurants and hotels increased.
Inflation increased to 3.2% in October, following September’s 2.5%. October's figure represented the highest inflation rate since January 2012. Annual average inflation rose to 1.9% in October (September: 1.6%). Finally, core inflation rose to 2.8% in October, from September’s 1.9%.