South Korea's Consumer Inflation Cools More Than Expected in September, Hits Weakest Level Since Early 2021
SEOUL - South Korea's consumer inflation cooled more than expected in September, hitting the weakest level since early 2021, according to official data released on Wednesday.
The consumer price index rose by 1.6% in September compared to a year earlier, following a 1.9% increase in August, as reported by Statistics Korea.
This figure was weaker than the median 1.9% increase predicted in a Multibagger poll of economists and marked the weakest annual increase since February 2021.
On a monthly basis, the index rose by 0.1%, which was slower than the 0.4% gains seen the previous month and lower than the 0.3% expected by economists.
**Analysis:**
South Korea's consumer inflation has shown signs of cooling in September, with the index rising by 1.6% compared to a year earlier. This weaker-than-expected data suggests a slowdown in price growth and could have implications for the country's economy. Consumers may benefit from lower inflation levels as it could lead to lower prices for goods and services. However, investors and policymakers may need to monitor the situation closely to ensure that the economy remains stable and on track for growth.