Korea’s core inflation still trails overall improvement in the country’s economic activity, a senior official at the Bank of Korea said on Nov. 3.
“Our economic activities continue to improve steadily, thanks to the favorable global conditions and despite the recent uncertainties at home and abroad,” BOK Senior Deputy Gov. Yoon Myun-shik said at an international conference at the Seoul National University in southern Seoul.
But core inflation, which reflects our demand-side inflationary pressures, is still in the mid-1 percent range, said Yoon, a voting member of the BOK’s monetary policy board.
In October, the country’s core inflation, except for volatile food and fuel prices, fell to an annual 1.3 percent, down from 1.6 percent a month earlier, the central bank said.
By Alex Lee and newswires (firstname.lastname@example.org