South Korea November producer inflation falls to 19-month low

SOUTH Korea’s producer inflation in November slowed for a fifth consecutive month to a 19-month low, data showed on Thursday (Dec 22), pointing to weakening consumer price pressure ahead.

The producer price index in November stood 6.3 per cent higher than the same month a year before, according to the Bank of Korea data, after a revised 7.3 per cent annual rise in October. It posted its slowest gain since April 2021 last month.

Its annual growth kept slowing since touching a near 14-year high of 10.0 per cent in June this year.

On a monthly basis, the index fell 0.2 per cent in November after a 0.5 per cent gain in October. REUTERS