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Korea Inflation December 2023

Korea: Inflation drops to lowest level since July in December

Inflation inched down to 3.2% in December, easing slightly from November’s 3.3%. December’s result marked the lowest inflation rate since July. The deceleration was largely due to a lower rise in food prices.

Annual average inflation fell to 3.6% in December (November: 3.7%). Meanwhile, core inflation edged down to 2.8% in December, from the previous month’s 2.9%.

Finally, consumer prices increased 0.04% over the previous month in December, swinging from November’s 0.52% fall.

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