South Korea Sept consumer inflation +1.6% y/y, way below forecast

SEOUL : South Korea’s consumer inflation cooled more than expected in September and hit the weakest level since early 2021, official data showed on Wednesday.
The consumer price index rose 1.6 per cent in September from a year earlier, after a rise of 1.9 per cent in August, according to Statistics Korea.
It was weaker than a median 1.9 per cent increase tipped in a Reuters poll of economists and marked the weakest annual increase since February 2021.
The index rose 0.1 per cent on a monthly basis, also slower than gains of 0.4 per cent the previous month and 0.3 per cent expected by economists.