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South Korea’s Inflation Holds at 2.4% Amid Currency Weakness and Supply Pressures
South Korea’s Inflation Holds at 2.4% Amid Currency Weakness and Supply Pressures
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South Korea's inflation remained stubbornly elevated at 2.4% in November, slightly above policymakers' 2.3% forecast. The persistent price pressures reflect structural challenges including a weak won driving up import costs and weather-related supply disruptions.
Core inflation hovered NEAR the central bank's 2% target, but businesses continue passing through higher production costs. Groceries, fuel, and imported goods like clothing and electronics saw notable price increases following October's fuel-tax subsidy reversal.
Seoul's housing market defies economic headwinds, with apartment prices climbing for 43 consecutive weeks. Analysts warn cheap borrowing costs could further inflate real estate bubbles as investors chase yield.
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