South Korea October Headline Inflation Moderates Ahead of Expected Rate Hike
Energy and service costs kept inflation elevated, while agricultural prices fell for a third straight month, the data ministry said.
- South Korea's Consumer Prices rose 2.8 percent in Oct, easing from 2.9 percent in September and providing a slight reprieve while remaining firmly above target.
- Petroleum products' Prices advanced 14.9 percent in Oct, as Korea relies heavily on imports to meet its energy needs, keeping energy costs elevated.
- Offsetting some energy pressure, agricultural, livestock, and fishery product Prices fell 1.7 percent in Oct, with apples and cabbages dropping 13.4 percent and 44.3 percent, respectively.
- Core inflation stood at 2.8 percent in Oct, while service sector Prices moved up 2.7 percent, led by higher insurance premiums and overseas package tour costs.
- Reuters polls show consensus forecasts put the peak policy interest rate at 3.50 percent, pricing in one more hike this Nov and another in the first quarter of 2027.
12 Articles
12 Articles
Consumer prices up 2.8% in October, remain in 2% range for 2nd month
Korea's consumer prices rose 2.8 percent in October from a year earlier, data showed Tuesday, as agricultural product prices continued to decline despite energy costs remaining elevated. According to data from the Ministry of Data and Statistics, consumer price growth eased to 2.8 percent in October from 2.9 percent in September and 3.1 percent in August. The data ministry said petroleum products' prices advanced 14.9 percent year-on-year in Oct…
The consumer price index (CPI) rose by 2.8% in October. This represents a 0.1 percentage point decrease from the previous month (2.9%), marking a slowdown in the rate of increase for two consecutive months. While prices for agricultural, livestock, and fishery products decreased compared to last year, overall prices rose as the prices of services and manufactured goods increased. The Cost of Living Index, which reflects perceived inflation by fo…
The consumer price inflation rate for October was recorded at 2.8%, slightly lowering the margin of increase compared to the previous month. According to the "October Consumer Price Index" released by the National Data Center on the 3rd, consumer prices rose 2.8% last month compared to a year ago. Following a 3.1% increase in August and 2.9% in September, the rate has remained in the 2% range for two consecutive months.
The consumer price inflation rate recorded 2.8% last month, marking a slowdown in the rate of increase for the second consecutive month. While falling prices for agricultural products such as vegetables and fruits lowered the overall inflation rate, prices for petroleum products and processed foods continued to rise. According to the "Consumer Price Trends for October 2026" released by the National Data Office on the 3rd, the consumer price inde…
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