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Korea Inflation November 2023

Korea: Inflation falls to lowest level since July in November

Inflation dropped to 3.3% in November from October’s 3.8%. November’s figure marked the weakest inflation rate since July. The decline was broad-based, with reduced price pressures recorded for housing and utilities, transportation, and food and non-alcoholic beverages.

Annual average inflation edged down to 3.8% in November (October: 3.9%). Meanwhile, core inflation fell to 3.0% in November, from October’s 3.2%.

Finally, consumer prices dropped 0.56% in November over the previous month, swinging from the 0.34% rise logged in October. November’s result marked the weakest reading since October 2020.

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