Korea: Inflation declines to lowest level since June in October
November 3, 2020
Consumer prices fell 0.56% in October over the previous month, contrasting September's 0.66% rise. October's result marked the sharpest fall in prices since April. The decline was mainly driven by a collapse in communication prices due to the government’s phone bill subsidy, which was rolled out recently as part of stimulus efforts.
Inflation eased to 0.1% in October, which was down from September’s 1.0%. October's figure represented the weakest inflation rate since June, and was also driven largely by lower communication prices. Annual average inflation was unchanged at September's 0.5% in October. Lastly, core inflation fell to 0.1% from the previous month's 0.9%.