South Korea’s inflation eases to slowest pace in 10 months in October

South Korea’s inflation eased to its slowest
pace in ten months in October,.. logging a one-point-eight percent gain on-year. Statistics Korea attributed the slower growth
to a drop in food prices that had spiked in recent months due to a supply shortage driven
by unfavorable weather conditions. With that, consumer prices logged the lowest
growth since December last year when they posted one-point-three percent growth. It’s also the first time since June that inflation
grew at a rate lower than two percent. Core inflation — that excludes volatile oil
and food prices — rose one-point-six percent on-year. The statistics bureau says it will closely
monitor inflation as we enter the winter season.

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