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Inflation in South Korea Reaches 2.4% as Prices Climb in November

Inflation in South Korea Reaches 2.4% as Prices Climb in November

Post by : Bianca Haleem

Seoul – In November, South Korea's consumer prices surged beyond the Bank of Korea's 2 percent target for the third consecutive month, according to government data released on Tuesday. This increase reflects the ongoing rise in the costs of food and energy.

The Ministry of Data and Statistics revealed a 2.4 percent year-over-year rise in overall consumer prices, highlighting a trend that began in early 2025. Prior to this, inflation had remained above the central bank’s target for four months until April, saw a slight dip in May, and then fluctuated around the 2 percent level during summer and autumn.

This latest rise is largely attributed to substantial increases in the prices of agricultural goods and fuel, which are straining household finances. Core inflation, which excludes the more volatile food and energy prices, has also risen significantly, climbing to 2.9 percent year-on-year, marking the highest level since July 2024.

Economists suggest that these enduring inflation rates could impact monetary policy decisions in the near future, as consumers and businesses adapt to the persistent rises in essential commodities.

Dec. 2, 2025 12:09 p.m. 1219
Global News World News

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