South Korea's annual inflation in October accelerated to its highest in 11 months to reflect an ongoing recovery in consumption, government data showed on Tuesday, easing the pressure for an immediate rate cut by the central bank.
The consumer price index rose 0.9 percent in October from a year earlier, Statistics Korea data showed, up from a 0.6 percent increase in September. It was the fastest rise since a 1.0 percent gain in November last year.
The result beat a median 0.8 percent rise tipped in a Reuters survey.
"This shows inflation is now just starting to leave the bottom although it doesn't indicate price pressures are back where they were before," said David Kim, an economist at Daishin Securities in Seoul.