BOK sees consumer inflation remaining near 3% in Nov.

What happened: The Bank of Korea said consumer inflation is expected to stay in the high 2 percent range in November, after October prices rose 2.8 percent on year. Key numbers: October CPI 2.8 percent on year, down from 2.9 percent in September and 3.1 percent in August. Agricultural, livestock and fishery prices fell 1.7 percent; petroleum product prices rose 14.9 percent. Why it matters: The central bank cited global oil prices and a continued upward trend in core inflation, with cost-push and demand-pull pressures amid Middle East uncertainties keeping inflation elevated.

The Bank of Korea said consumer inflation is expected to stay in the high 2 percent range in November, after October prices rose 2.8 percent on year.

The central bank cited global oil prices and a continued upward trend in core inflation, with cost-push and demand-pull pressures amid Middle East uncertainties keeping inflation elevated.