韩国10月通胀维持高位，凸显物价压力，央行在上月暂停加息后正权衡进一步加息。
Korea’s inflation remained elevated in October, underscoring price pressures as the central bank weighs further interest-rate increases following a pause last month.
企划财政部和统计厅周二公布的数据显示，消费者物价指数同比上涨2.8%，9月为上涨2.9%。该读数符合彭博社经济学家调查中位数预估的2.8%。
Consumer prices rose 2.8% from a year earlier, compared with a 2.9% increase in September, data from the Ministry of Data and Statistics showed Tuesday. The reading matched the 2.8% median estimate in a Bloomberg survey of economists.
剔除波动较大的食品和能源价格后的核心通胀率在10月维持在2.8%，高于2.7%的中位数预估。该读数表明潜在通胀依然顽固。
Core inflation, which excludes volatile food and energy prices, held at 2.8% in October, above the 2.7% median forecast. The reading suggests underlying inflation remains sticky.
持续的通胀压力是韩国央行维持限制性政策立场的主要原因。行长申贤松重申，通胀可能在一段时间内维持在央行2%的目标之上，政策将保持限制性，直到官员们确信通胀正向目标收敛。
Persistent inflationary pressure is the main reason for the Bank of Korea to maintain a restrictive policy stance. Governor Shin Hyun Song reiterated that inflation is likely to remain above the bank’s 2% target for some time, and that policy will stay restrictive until officials are confident it is converging toward the target.
韩国央行10月22日以全票通过决定将基准利率维持在3%，此前曾在7月和8月连续两次各加息25个基点。更新后的物价预测将在央行下次会议（11月26日）上发布。
The central bank held its benchmark interest rate at 3% on Oct. 22 in a unanimous decision after consecutive quarter-point increases in July and August. Updated price forecasts will be released at the bank’s next meeting on Nov. 26.
韩国央行此前预测，今年整体通胀率为2.7%，2027年为2.3%，核心通胀率两年均为2.5%。申贤松表示，明年核心通胀率预计将略高于此前预测。
The BOK had projected headline inflation of 2.7% for this year and 2.3% for 2027, with core inflation at 2.5% in both years. Shin said core inflation next year is expected to be slightly higher than previously forecast.
通胀数据出炉之际，韩国经济呈现出日益明显的分化：出口部门蓬勃发展，而家庭需求低迷。第三季度国内生产总值（GDP）环比增长1%，超出经济学家0.8%的预期。设备投资跃升4.1%，但私人消费下降0.2%。
The inflation data comes as South Korea’s economy shows an increasingly stark divide between its booming export sector and subdued household demand. Gross domestic product expanded 1% in the third quarter from the previous three months, exceeding economists’ forecasts for a 0.8% gain. Facility investment jumped 4.1%, but private consumption fell 0.2%.
这种分化使政策前景复杂化。强劲的出口和投资支持进一步提高借贷成本的理由，但疲弱的家庭支出引发疑问：由需求驱动的价格压力究竟扩散到了多大程度。
That divergence complicates the policy outlook. Strong exports and investment support the case for higher borrowing costs, but weak household spending raises questions about how widely demand-driven price pressures are spreading.
申和锡表示，今明两年的增长将大幅超过韩国央行8月预测的3.3%和2.9%。央行预计，半导体需求将支撑出口和投资，收入改善将逐步带动消费。
Shin said growth this year and next would substantially exceed the BOK’s August forecasts of 3.3% and 2.9%, respectively. The central bank expects semiconductor demand to sustain exports and investment, with improving incomes gradually supporting consumption.
扣除工作日差异后，10月出口同比增长约76%，此前9月曾激增104.9%。半导体出货量飙升259%至564亿美元，使韩国有望首次年出口突破1万亿美元。
Exports adjusted for working-day differences rose about 76% in October from a year earlier, following a 104.9% increase in September. Semiconductor shipments climbed 259% to $56.4 billion, keeping South Korea on course to exceed $1 trillion in annual exports for the first time.
韩元升值有助于抑制进口型通胀。申和锡欢迎货币进一步升值，指出这对家庭购买力和物价均有利。
The won’s appreciation has helped curb imported inflation. Shin has welcomed further currency gains, pointing to the benefits for household purchasing power as well as prices.
10月消费者物价指数（CPI）涨幅主要由交通价格推动，后者同比上涨6.8%，娱乐和文化价格上涨5.1%。食品和住宿价格上涨3%，家庭用品和服务价格上涨4%。
The advance in the CPI was led by transport prices, which climbed 6.8% in October from a year earlier, while recreation and culture gained 5.1%. Food and lodging picked up 3% and household goods and services rose 4%.
更广泛的消费品价格涨幅保持温和，酒精饮料和烟草价格持平，食品杂货和非酒精饮料价格仅微涨0.5%。
Broader consumer-price increases remained modest, with alcoholic beverages and tobacco unchanged and groceries and non-alcoholic beverages edging up 0.5%.