In March, consumer prices fell 0.09% over the previous month, which contrasted the 0.38% increase recorded in February. As a result, annual inflation fell from 3.1% in February to 2.6% in March, defying market expectations of a 3.2% rate and marking the lowest level since July 2010. The core inflation index, which excludes more volatile items such as fresh food and energy, fell 0.38% over the previous month, which contrasted the 0.10% increase observed in February. Annual core inflation fell from 2.5% in February to 1.9% in March, the lowest level since December 2010. According to the revised Economic Outlook for 2012, the Central Bank sees inflation at 3.2% this year, an inch below the previously forecasted 3.3%. For 2013, the Bank expects inflation to moderate to 3.1%.
Inflation continues to decelerate
April 1, 2012
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Korea Economic News
October 13, 2016
At its 13 October monetary policy meeting, the Bank of Korea (BoK) announced that it will hold the base rate constant at a record low of 1.25%, which was largely in line with market expectations.
October 5, 2016
In September, consumer prices rose 0.6% over the previous month, which contrasted the 0.1% decrease in August and overshot the 0.2% increase the markets had expected.
October 3, 2016
Korea’s Customs Services reported that exports totaled USD 40.9 billion in September, which represented a 5.9% contraction over the USD 43.4 billion recorded in the same month last year.
September 30, 2016
The forward-looking business confidence indicator (BSI) for the manufacturing sector produced by the Bank of Korea (BoK) rose from 74 points in September to 75 points in October.
September 30, 2016
In August, industrial production accelerated and expanded 2.3% year-on-year, which was up from both the 1.6% increase registered in July and the 1.6% rise the markets had expected.