S.Korea Dec inflation eases, gives room for more easing

South Korean inflation has eased to further below the central bank's target in December. 

Data from Statistics Korea showed consumer price index rose 1.4 percent in December from a year earlier.

That's down from a 1.6 percent gain in November.

This was the 10th consecutive month in which annual inflation stood below the Bank of Korea's 3 percent target as the country's economy cooled. 

South Korean exports are facing weakening demand due to the euro zone's fiscal crisis and a global slowdown. 

The inflation reading will give the central bank room for more interest rate cuts to spur growth. 

Last week, the Bank of Korea had already pledged to focus its policy on supporting economic growth "for the time being".