In April, consumer prices were flat over the previous month, virtually unchanged from the 0.09% drop recorded in March. Annual inflation, however, inched down from 2.6% in March to 2.5% in April, defying market expectations of a 2.8% rate and marking the lowest level since July 2010. The core inflation index, which excludes more volatile items such as fresh food and energy, added 0.10% over the previous month, which contrasted the 0.38% drop observed in March. Annual core inflation inched down from 1.9% in March to 1.8% in April, the lowest level since December 2010. According to the revised Economic Outlook for 2012, the Central Bank sees inflation at 3.2% this year. For 2013, the Bank expects inflation to moderate to 3.1%.
Inflation eases in April
May 1, 2012
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Korea Inflation Chart
Note: Month-on-month and year-on-year variation of consumer price index in %.
Source: KOSTAT-KOSIS and FocusEconomics calculations.
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.