• S. Korean Oct inflation paces up to 1.2% from 1.1%

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    SEOUL: South Korea’s consumer prices inched up 1.2 percent in October from a year ago, state data showed on Tuesday, on the back of increased costs for clothing and utilities.

    The increase compared to 1.1 percent growth in September, the slowest pace for seven months, state-run Statistics Korea said.

    The core consumer price index, which excludes volatile energy and food prices, rose 1.8 percent on-year, slowing from 1.9-percent growth in September.

    The price of clothes and shoes rose 4.1 percent from a year ago, while utility fees gained 2.6 percent.

    The latest figure remained below the central Bank of Korea’s annual inflation target range of 2.5 percent to 3.5 percent.

    The central bank expects inflation in Asia’s fourth-largest economy to accelerate to 1.9 percent in 2014 following a 1.3-percent increase in 2013—the slowest for 14 years.

    AFP

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