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South Korea inflation slows to three-month low of 1.6%

Published on Dec 3, 2012 9:51 AM

SEOUL (AFP) - South Korea's inflation rate slowed to a three-month low in November, government data showed on Monday, allowing more room for the central bank to cut rates to bolster growth.

The consumer price index rose 1.6 per cent from a year earlier, slowed by falling prices of telecommunication services and key items including medicines and televisions, according to Statistics Korea.

The November figure compared with a 2.1 per cent gain the month before and is the lowest since a 1.2 per cent increase in August.

It was well below the Bank of Korea's inflation target of 2.0 to 4.0 per cent.

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