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Post by : Badri Ariffin
Seoul – In November, consumer prices in South Korea exceeded the Bank of Korea's 2 percent target for the third consecutive month, as revealed by government data on Tuesday, indicating rising costs in food and energy.
According to the Ministry of Data and Statistics, the total consumer price index rose 2.4 percent year-on-year, extending a rising trend that started earlier in 2025. Inflation remained above the central bank's target for four months up until April, saw a slight decline in May, and then fluctuated around the 2 percent threshold during the summer and fall.
The recent increase is primarily attributed to significant hikes in agricultural commodities and fuel prices, which are placing strain on household finances. Core inflation, which excludes unstable food and energy prices, also showed a significant rise, increasing by 2.9 percent compared to the previous year, marking the highest level since July 2024.
Economists express concern that these ongoing inflation levels might affect monetary policy directives in the near future, as both consumers and businesses adapt to the escalating costs in essential sectors.
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