Bloomberg
Published Dec 01, 2019 07:42PM ET
Updated Dec 01, 2019 11:11PM ET
South Korea Consumer Prices Barely Rise Amid Dim Growth Outlook
(Bloomberg) -- South Korea’s consumer prices returned to growth in November but at a much weaker pace than expected, underscoring softness in inflationary pressure in an economy hurt by trade tensions and sluggish global demand.
Consumer prices rose 0.2% in November from a year earlier, rising for the first time in four months, according to a statement from the country’s statistical office on Monday. Economists had forecast a 0.7% rise, following a 0% reading in October and a first-ever drop in September. The data follows a bigger-than-expected exports decline for November, which damped optimism that a prolonged slump in global demand may finally be bottoming out.
Key Insights
“We expect inflation to hover around 0% for the next few months, then rise back toward 1% in the year ahead. Weak price pressures underscore slack in the economy.”-Justin Jimenez, economistClick here to read more.Get more
Written By: Bloomberg
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