Reported 21 days ago
South Korea's inflation rate in October 2024 slowed to its lowest level in nearly four years, raising concerns about possibly falling below the Bank of Korea's target of 2%. The consumer price index rose by only 1.3% year-on-year, down from 1.6% in September, prompting speculation about further interest rate cuts. Influences such as declining global oil prices and fresh food costs contributed to this downturn, as the Bank of Korea anticipates core prices will stabilize around the 2% mark by year-end.
Source: YAHOO