The Bank of Korea(BOK) expects the weak South Korean currency to push inflation to around two percent.

BOK Deputy Gov. Kim Woong delivered the projection Tuesday during a meeting to review consumer prices, saying the recent weakening of the won has yet to affect inflation but that its impact will be apparent after December. 
 
Kim predicted that consumer price inflation will reach about two percent, given the low base effect and the strong dollar, but that core inflation, which excludes volatile food and energy prices, will remain where it is now. 

The deputy governor added that future prices depend on the won-dollar exchange rate, oil prices, domestic demand, and possible adjustments to utility rates.

Statistics Korea announced earlier on Tuesday that consumer prices increased one-point-five percent year-on-year in November, as compared with a one-point-three percent increase the previous month.