South Korea's inflation climbs in November, but misses expectations

South Korea’s inflation rate rose to 1.5% year on year in November, up from a 45-month low in October, due to a weakening Korean won and slowing exports. The central bank unexpectedly cut rates to 3% to mitigate economic risks, with GDP narrowly avoiding a recession in the third quarter. The Bank of Korea expects stable prices ahead, with lowered inflation outlooks for 2024 and 2025, citing factors like exchange rates and global oil prices impacting future inflation trends.

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