SEOUL (Reuters) – South Korea’s annual consumer inflation in October ticked up from September against market expectations for no change, government data showed on Wednesday.
The consumer price index (CPI) rose 5.7% in October from a year earlier, according to the Statistics Korea data. The rate had slowed in September to 5.6% from 5.7% in August.
The median forecast in a Reuters survey of economists was for the annual CPI growth to be 5.6% in October, although five of the 11 economists polled predicted higher rates.
The CPI rose 0.3% in October on a monthly basis, the same rate as in September and higher than a 0.2% gain seen in the survey.
(Reporting by Choonsik Yoo; Editing by Muralikumar Anantharaman)
