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South Korea's consumer prices rose 3.7% in November from a year earlier, the fastest pace since 2011 and above all economist estimates. The increase was driven by higher oil and food costs, and core inflation came in at 2.3%.
The result strengthens the case for further Bank of Korea rate hikes.
Higher domestic food inflation can squeeze Korean feed and livestock margins, but the report itself does not move global grain or oilseed prices. Its main relevance to feed buyers is through the macro and currency channel.
straitstimes.comDec 2, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
