South Korea’s consumer prices rise 2.8% year-on-year in October, easing from 2.9% in September and 3.1% in August. Prices of agricultural, livestock and fishery products fall on-year, while energy costs remain elevated, with petroleum product prices up 14.9% year-on-year. The Bank of Korea (BOK) says inflation is likely to stay in the high 2% range in November, supported by continuing core inflation and influenced by global oil prices.
The BOK points to a mix of factors, including upward trends in core inflation (which excludes volatile food and energy) and ongoing inflation pressures described as cost-push and demand-pull. Core inflation stands at 2.8% year-on-year in October, with government data also noting sharp increases in diesel and gasoline. Some outlets additionally detail how imported industrial prices move with global energy and how categories such as mobile phones and computers rise, while imported automobile prices fall. Multiple Yonhap items reproduce the same core figures and framing around the October print and November outlook.
Across coverage, the main differences are emphasis: Korea Times highlights the BOK’s November projection and the drivers it cites, while Yonhap repeatedly leads with the October inflation number and the “remain in the 2% range” framing.
