South Korea Inflation 4,8% Slowest in 10 Months

7 March 2023 07:22

South Korea's consumer inflation for February came in at 4 points 8 percent the slowest pace in 10 months.

February's annual inflation levels also marked an easing from the 5 points 2 percent inflation in January. It was lower than market expectations and the slowest rate since April 2022 or the slowest in 10 months.
The prices of livestock products, dropped 3.2% from the previous month while petroleum products also fell 1,3% dragging South Korea's inflation rate lower.
Yearly core inflation, which excludes volatile food and energy prices also slowed down to 4,0%, hitting the lowest level since August. This is further suggesting an easing in underlying price pressures.
The slowdown in inflation is enforcing views that the Korean Central Bank, Bank of Korea, could be done with its policy tightening cycle, especially after the bank chose not to hike rates last month