Year-on-year, prices advanced faster for: food and non-alcoholic beverages (5.6 percent vs 5.2 percent in September); alcoholic beverages and tobacco (0.1 percent, compared to a flat reading in the prior month); housing and utilities (0.8 percent vs 0.7 percent); transport (4.6 percent from 4.1 percent), while inflation was steady for: clothing and footwear (0.6 percent); education (at 1.5 percent); and restaurant and hotels (at 2.4 percent). In addition, cost fell less for health (-0.4 percent vs -0.5 percent). On the other hand, cost went up at a softer rate for: furnishing, household equipment & routine maintenance (2.3 percent vs 2.4 percent); recreation and culture (0.5 percent vs 1.9 percent); and miscellaneous goods and services (0.5 percent vs 0.9 percent). At the same time, cost of communication dropped further 1.8 percent, after a 1.7 percent fall in a month earlier.
Core CPI, which excludes oil and agricultural products, increased by 1.1 percent, compared to a 1.2 percent rise in September.
For 2018, the Bank of Korea sees inflation at 1.7 percent.
On a monthly basis, consumer prices declined 0.2 percent, following a 0.7 percent gain in September while markets estimated a 0.25 percent fall. It was the first monthly drop since June.