South Korea's Inflation Eases, Clearing Path for Rate Cut
By Kwanwoo Jun
South Korea's headline inflation eased at a sharper-than-expected pace to a 43-month low in September, bolstering the case for a rate cut by the central bank.
The benchmark consumer-price index rose 1.6% from a year earlier, the slowest pace since February 2021, following a 2.0% gain in August, the country's statistics office said Wednesday.
That missed the median forecast of 1.9% projected by nine economists polled by The Wall Street Journal.
Compared with the prior month, the index rose 0.1% in September and missed the median forecast tipping a 0.4% increase. In August, it rose 0.4% from the previous month.
Core CPI, which strips out volatile food and energy prices, increased 2.0% from a year earlier in September and edged down 0.2% from the previous month.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com
(END) Dow Jones Newswires
October 01, 2024 19:18 ET (23:18 GMT)
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