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(LEAD) S. Korea's consumer prices up 1.3 pct in Nov., slowest pace this year

All News 08:50 December 01, 2017

(ATTN: ADDS details in last 4 paras; RECASTS lead para)

SEJONG, Dec. 1 (Yonhap) -- South Korea's consumer prices rose at the slowest pace in 11 months in November, giving the central bank more room to maintain the current interest rates.

The consumer price index advanced 1.3 percent last month from a year earlier, down 0.5 percentage point from October, according to the data compiled by Statistics Korea.

Slowing inflation is likely to persuade the Bank of Korea to hold off raising interest rates.

On Thursday, the central bank lifted its key interest rate for the first time in more than six years, citing a solid economic recovery.

(LEAD) S. Korea's consumer prices up 1.3 pct in Nov., slowest pace this year - 1

Core inflation, which excludes volatile oil and food prices, also increased 1.4 percent on-year.

Vegetable prices dropped 11 percent from October, and fruit prices fell 9 percent, the statistics office said.

But industrial goods prices rose 1.4 percent from a month ago, and gasoline prices climbed 6.5 percent.

Kim Yun-sung, director of the price statistics division at the statistics office, said November's inflation slowed due to declines in prices of fresh vegetables and cuts in utility bills.

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