South Korea’s CPI inflation lowest since June

Annual consumer price inflation in South Korea has decelerated to 3.2% in December from 3.3% in November, data by Statistics Korea showed.

It has been the lowest CPI inflation reading since June, mostly due to a slowdown in the cost of food.

In comparison, market consensus had pointed to a slowdown to 3.26%.

In month-over-month terms, South Korean consumer prices remained without change in December, after a 0.5% drop in November. The latest inflation print missed market expectations of a 0.2% increase.

The South Korean Won was little changed on the day against the US Dollar, with the USD/KRW currency pair last trading at 1,290.35.

The Won held in proximity to a fresh six-week high of 1,284.35, which it registered during early Asian session.