S. Korea's Inflation At 6-Month High In November

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South Korea's consumer price index or CPI rose 2.4% year-on-year in November after rising 2% in October, the National Statistical Office said Tuesday. That was in line with economists' expectations and was the highest in six months.

On a monthly basis, the CPI climbed 0.2% in November following a fall of 0.3% in the previous month. The core annual inflation, which excludes volatile items like food and fuel prices was 2.5% in November, slightly down from 2.6% recorded in October.

South Korea's inflation target for the 2010-2012 period has been fixed in the 2% to 4% range so as to offer greater flexibility in monetary policy setting amid an uncertain economic outlook, the Bank of Korea said recently. The central bank had set a narrower 2.5% to 3.5% inflation target in the 2007-2009 period.

The South Korean government has pledged to continue its expansionary macroeconomic policy stance until the economy gains sustainable growth.

South Korea's consumer price index or CPI rose 2.4% year-on-year in November after rising 2% in October, the National Statistical Office said Tuesday. That was in line with economists' expectations and was the highest in six months. (Market News Provided by RTTNews)