• The consumer price index rose 4.8% in February from a year before, Statistics Korea data showed on Monday, easing from January’s 5.2%. It was below the 5.1% tipped in a Reuters poll, and was also the lowest rate since April 2022.
• Annual core inflation, which excludes volatile food and energy prices, inched down to 4.0%, from 4.1% a month before, and hit the lowest since August, suggesting easing underlying price pressure.
• The Bank of Korea said in a statement after the CPI release that the February data came in as expected and that the inflation rate would fall significantly in March and continue easing this year, but still hold above its mid-term 2% target.