South Korea's October headline inflation slowed further to the weakest level in almost four years, data showed on Tuesday, strengthening the case for more interest-rate cuts and fueling worries of an undershoot of the Bank of Korea's 2% target.

South Korea’s inflation decelerated to the slowest pace since early 2021, prompting the central bank to welcome the cooling as a sign of firming price stability as it signaled it remained wary of risks ranging from the US election to foreign exchange rates.

South Korea’s headline inflation slowed to a 45-month low in October, continuing a downward trend that will cement the case for the central bank to keep cutting interest rates.

South Korea's consumer inflation in October hit the weakest level since January 2021, official data showed on Tuesday.The consumer price index rose 1.3% in October from a year earlier, after a rise of 1.

South Korea’s inflation decelerated to the slowest pace since early 2021, prompting the central bank to welcome the cooling as a sign of firming price stability as it signalled it remained wary of risks ranging from the US election to foreign exchange rates.

Consumer prices advanced 1.3% in October from a year earlier, moderating from a 1.6% clip in September and easing for a third straight month, the statistics office reported Tuesday. Economists surveyed by Bloomberg had forecast the pace of price growth would be 1.

But if the Fed veers from that steady pace, it likely would be to reduce rates less sharply to ensure inflation keeps falling, economists say. Start the day smarter. Get all the news you need in your inbox each morning.