SEOUL :South Korea's consumer inflation accelerated to a near 10-year peak in October on higher costs of oil products, housing rentals and outdoor dining, putting pressure on policymakers ahead of the last monetary policy meeting of the year.
The breakdown of data showed the cost of petroleum surged 27.3per cent, while that of housing rentals rose 1.8per cent on year. Costs of outdoor dining increased 3.2per cent, while other services including accommodation also rose 2.3per cent. The BOK currently sees inflation standing at 2.1per cent for the whole of 2021 and 1.5per cent for 2022, but the revision of forecasts will be announced at the November meet.
Source: Real Estate Daily Report (realestatedailyreport.net)
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