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Korea Inflation November 2020

Korea: Inflation increases in November

Consumer prices dropped 0.10% over the previous month in November, a smaller fall than the 0.56% drop logged in October. Looking at the details of the release, the huge month-on-month rise in communication prices drove the softer fall in November (communication prices had previously spiked in October due to the government’s phone bill subsidy). Prices for utilities and transportation fell at a softer rate in November. Notably, food and non-alcoholic beverages prices plunged in November, following a slight uptick in October.

Inflation rose to 0.6% in November, above October’s 0.1%. Annual average inflation rose to 0.6% in November (October: 0.5%). Core inflation rose to 1.0% from the previous month’s 0.1%.

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