South Korea Dec inflation +1.9% y/y, sooner than anticipated

SEOUL (Reuters) – South Korea’s client inflation quickened in December, exceeding market expectations, official information confirmed on Tuesday, but it surely was nonetheless decrease than the central financial institution’s goal.

The patron worth index rose 1.9% in December from a 12 months earlier, after an increase of 1.5% in November, in response to Statistics Korea.

It was the quickest year-on-year rise in 4 months and sooner than a median 1.7% improve forecast in a Reuters survey of economists, however weaker than the central financial institution’s medium-term goal of two%.

In 2024, the CPI rose 2.3%, after rising 3.6% in 2023, marking the slowest annual rise in 4 years.