Südkorea Verbraucherpreise

South Korea's annual inflation rate increased to 1.5% in November 2024, up from a 45-month low of 1.3% in October. However, the latest figure fell short of the market's expectations of 1.7%. Inflation remained below the central bank's 2% target for the third consecutive month, reinforcing its recent decision to lower interest rates. Last week, the Bank of Korea unexpectedly reduced its benchmark rate by 25 basis points to 3%, marking the first instance of back-to-back rate cuts since 2009. The BOK attributed the move to stabilizing prices, driven by falling global oil prices and subdued demand. Additionally, the central bank revised its inflation projections for 2024 and 2025, lowering them to 2.3% and 1.9%, respectively, down from previous forecasts of 2.5% and 2.1%.