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© Reuters. Girls eat fried hen at a Han river park in Seoul, South Korea, April 26, 2022. Image taken April 26, 2022. REUTERS/Kim Hong-Ji/File Photograph
SEOUL (Reuters) – South Korean inflation is more likely to ease in November to about 3.6% as costs of agricultural merchandise have began to fall, the finance minister mentioned on Sunday.
South Korea’s shopper value index stood 3.8% greater in October from a 12 months in the past, the quickest inflation fee since March 2023 and above the three.6% forecast by a Reuters ballot.
“Oil costs have been falling somewhat bit just lately. If that is the pattern, the inflation fee might be round 3.5% to three.6%, and this sort of value stabilisation will occur progressively, albeit slowly,” Finance Minister Choo Kyung-ho instructed public broadcaster KBS TV.
Client inflation accelerated for a 3rd month in October amid greater meals prices, preserving policymakers on edge as they’re monitoring whether or not present rates of interest are tight sufficient to deliver inflation to heel.
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