Korea: Inflation drops below Central Bank's target range
December 3, 2012
In November, consumer prices fell 0.37% over the previous month, which followed the 0.09% drop recorded in October. Annual inflation fell from 2.1% in October to 1.6% in November, below market expectations of a 2.0% rate. As a result, annual inflation fell below the Central Bank's target range of 3.0% plus/minus 1.0 percentage points.
The core inflation index, which excludes more volatile items such as fresh food and energy, added 0.10% over the previous month, following the flat reading observed in October. Annual core inflation inched down from 1.5% in October to 1.3%.