Inflation expectations in November dropped slightly from a month ago.

According to the Bank of Korea(BOK) on Tuesday, expected inflation, measuring consumers’ estimates on price increases in the next 12 months, stood at four-point-two percent this month, down one-tenth of a percentage point from October.

The index soared to an all-time high of four-point-seven percent in July before declining to four-point-three percent in August and four-point-two percent in September and then rebounding by zero-point-one percentage point in October.

The BOK attributed the fall to the stabilized prices of vegetables and petroleum products despite continued hikes in public utility fees and processed food prices, while recent rallies in stock prices and the won’s appreciation against the U.S. dollar also appeared to have had an effect.

Consumers' perceived inflation over the past year also dropped by one-tenth of a percentage point on-month to four-point-two percent in November.

However, the consumer sentiment index, which measures how consumers assess national and personal economic conditions in the future, slipped two-point-three points on-month to 86-point-five this month.