South Korea inflation rises slightly in November, stays below regulator target
December 3, 2013, 12:08 am TWN
SEOUL -- South Korea's inflation rose slightly in November but stayed well below the central bank's inflation target, state data showed Monday.
The Consumer Price Index (CPI) rose 0.9 percent on-year in November, up from a 0.7-percent gain in October, the state-run Statistics Korea said.
The November reading — well below the central Bank of Korea's target range of 2.5 to 3.5 percent — also marked the third straight month that the country's inflation remained below 1.0 percent. Prices of eggs and taxi fares spiked on-year 14.6 percent and 15.3 percent, respectively, while prices of gasoline and cabbage — a key ingredient for many local dishes — tumbled 3.9 percent and 39.7 percent.
The core inflation rate — which excludes volatile oil and food prices — rose 1.8 percent from a year ago, up from a 1.6 percent on-year gain posted in October.