Quotes from Barclays Capital:
-South Korea's inflation edged down to 0.8% y/y in December (November: 1.0%; October: 1.2%), below expectations (Barclays and consensus: 0.9%). The weakness continued to be driven by persistently negative imported inflation, led mostly by the fall in oil prices.
-As such, we expect incoming inflation prints to remain benign over the coming months, despite an expected hike in cigarette prices from January 1, which should add 60bp to headline inflation.
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