S. Korea inflation picks up less than expected in November

The pace of South Korea's consumer inflation picked up less than expected and stayed below the central bank's target for a third month, in a sign of price stability.

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Consumer prices advanced 1.5 percent in November from a year earlier, accelerating from a 1.3 percent clip in October, the statistics office reported on Dec 2. Economists surveyed by Bloomberg had forecast the pace of price growth would rise to 1.7 percent.

The latest data came after the Bank of Korea (BOK) conducted back-to-back interest rate cuts in the last two months, as the authorities quickly adjusted the focus of policy to safeguard economic momentum.

Policymakers are concerned economic growth may be sputtering after gross domestic product grew less than expected in the third quarter.

US President-elect Donald Trump's return to the White House in January may create headwinds for the trade-reliant South Korean economy in the form of tariffs and other measures.