Falling prices: People walk outside a train station in Seoul. The pace of consumer price growth is expected to inch back up to around 2% towards the end of 2024, the central bank says. — AFP
SEOUL: South Korea’s inflation decelerated to the slowest pace since early 2021, prompting the central bank to welcome the cooling as a sign of firming price stability as it signalled it remained wary of risks ranging from the US election to foreign exchange rates.
South Korea’s consumer prices advanced 1.3% in October from a year earlier, moderating from a 1.6% clip in September and easing for a third straight month, the statistics office reported yesterday. Economists surveyed by Bloomberg had forecast the pace of price growth would be 1.4%.
