South Korea November CPI -0.6% m/m (expected -0.15%)

Data from South Korea for inflation in November 2023

-0.6% m/m, the quickest fall since October 2020

• expected -0.15%, prior -0.3%

+3.3% y/y

• expected 3.7%, prior 3.8%
• the core rate is +3.0% in the month, its slowest rise since March of 2022

South Korea’s Finance Ministry with a statement on the data, saying it expects inflation to continue stabilising

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Also published were data for economic growth and trade in Q3 2023, these are the final readings from the preliminaries published earlier:

• Revised q3 GDP +0.6% q/q vs +0.6% estimated earlier
• Revised q3 GDP +1.4%
  y/y vs +1.4% estimated earlier
• Revised q3 private
  consumption +0.3% q/q vs +0.3% estimated earlier
• Revised q3
  facilities investment -2.2% q/q vs -2.7% estimated earlier
• Revised q3
  construction investment +2.1% q/q vs +2.2% estimated earlier
• Revised q3 exports
  +3.4% q/q vs +3.5% estimated earlier
• Revised q3 imports
  +2.3% q/q vs +2.6% estimated earlier