S. Korea inflation slows as food prices stabilise

SEOUL: South Korea's inflation fell below four percent in October for the first time this year as food prices stabilised, official figures showed Tuesday.

Statistics Korea said the consumer price index rose 3.9 percent last month compared to a year earlier, slowing down from a 4.3 percent increase in September.

The October figure fell within the central bank's target band of 2-4 percent for the first time in 2011. Month-on-month, prices fell 0.2 percent.

Core inflation, which excludes volatile oil and food costs, grew 3.7 percent last month from a year earlier, the slowest rise for four months.