Company News

S.Korea inflation slows in Oct, core CPI falls at fastest pace in over 21 years

SEOUL, Nov 3 (Reuters) - South Korea’s annual inflation slowed in October and the core rate declined at its fastest pace in over 21 years as the government provided temporary subsidies last month for mobile phone bills, while the coronavirus pandemic continued to depress domestic demand.

The consumer price index rose 0.1% in October from a year earlier, Statistics Korea data showed, sharply missing a median 0.7% rise tipped in a Reuters survey and the lowest in four months.

The Oct core CPI, excluding volatile energy and food prices, declined 0.3% year-on-year, marking the sharpest fall since September 1999 and much slower than a 0.6% rise in the previous month. (Reporting by Joori Roh; Editing by Sandra Maler)