Korean Inflation Picks Up, Boosting Case for More Tightening
- BOK will weigh whether to hike rates by 50 basis points or 25
- Prices rising even as signs mount of slower economic activity
The BOK has raised its benchmark rate by 50 basis points at two of its past three meetings.
Photographer: Woohae Cho/BloombergThis article is for subscribers only.
South Korea’s inflation picked up again in October, highlighting resilient consumer demand and increasing pressure on the central bank to keep raising interest rates.
Consumer prices advanced 5.7% from a year earlier, quickening from 5.6% in September and matching economists’ estimates, the statistics office reported Wednesday. Core inflation accelerated to 4.8%, well above estimates of 4.5%.