S.Korea annual consumer inflation ticks up in Oct
2022.11.01 19:31
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© Reuters. A customer picks up a lunch box at a convenience store in Seoul, South Korea, June 24, 2022. Picture taken June 24, 2022. REUTERS/ Heo Ran
SEOUL (Reuters) – South Korea’s annual consumer inflation in October ticked up from September against market expectations for no change, government data showed on Wednesday.
The consumer price index (CPI) rose 5.7% in October from a year earlier, according to the Statistics Korea data. The rate had slowed in September to 5.6% from 5.7% in August.
The median forecast in a Reuters survey of economists was for the annual CPI growth to be 5.6% in October, although five of the 11 economists polled predicted higher rates.
The CPI rose 0.3% in October on a monthly basis, the same rate as in September and higher than a 0.2% gain seen in the survey.
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