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South Korea Inflation Rises 2.3% In 2024
(RTTNews) - Consumer prices in South Korea were up 2.3 percent on year in 2024, Statistics Korea said on Tuesday - moderating from 2.5 percent in the previous year.
For December, inflation rose 0.4 percent on month versus expectations for an increase of 0.2 percent following the 0.3 percent contraction in November.
On a yearly basis, consumer prices rose 1.9 percent 0 exceeding expectations for 1.7 percent and up from 1.5 percent a month earlier.
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Bank Of Korea Stands Pat On Rates, Lifts 2025 Growth Outlook
The Bank of Korea left its interest rate unchanged on Thursday as economic growth improved moderately despite high uncertainty surrounding the outlook. The Monetary Policy Board decided to hold the Base Rate at 2.50 percent. The central bank had previously lowered the benchmark rate by a quarter-point each in May and February.
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