Korea Inflation


Inflation edges up

In January, consumer prices added 0.6% over the previous month, which tripled the 0.2% increase recorded in December. Annual inflation inched up from 1.4% in December to 1.5% in January, which was in line with market expectations, but remained below the Central Bank's target range of 3.0% plus/minus 0.5 percentage points for the third consecutive month.

The core inflation index, which excludes more volatile items such as fresh food and energy, rose 0.4% over the previous month, following the 0.2% increase observed in December. Annual core inflation, however, remained unchanged at December's 1.2%.

The Central Bank expects inflation to average 2.7% this year.


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Korea Inflation Chart

Korea Inflation January 2013

Note: Month-on-month and year-on-year variation of consumer price index in %.
Source: KOSTAT-KOSIS and FocusEconomics calculations.

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