Inflation cools further as policy pivot hopes rise

Cautious approach: Rhee speaks at an international conference in Seoul. The BoK governor kept alive speculation over a possible policy easing later this year by highlighting a steady outlook for inflation even as economic growth picks up. — Bloomberg

SEOUL: South Korea’s inflation eased more than expected in May, nudging the central bank an inch closer to joining global peers embarking on a path to a policy easing.

Consumer prices advanced 2.7% from a year earlier, decelerating from a 2.9% clip in April, the statistics office reported yesterday.